XE Market Analysis: North America – Feb 25, 2021

The dollar remained under pressure, which drove the DXY index to seven-week lows under 89.75, as markets continued to react to Fed Chair Powell’s attempt to convince markets that the punch bowel of monetary stimulus isn’t going to be taken away anytime soon, even in the face of rising inflation. On the day, the biggest currency gainers have been the dollar bloc, though other commodity-correlating cyclical currencies have seen lacklustre performance today, including the South African rand and Mexican peso, despite firmer commodity prices.