USD Opens Year on Lower Note

The US Dollar (USD) is declining on Monday, opening the New Year with a negative performance amid increased risk sentiment among many investors.

Hopes for new vaccines are seemingly exceeding worries from the rising number of cases in many countries, which is driving more investors towards riskier currencies.

The Dollar index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is down by 0.47% at 89.52.

The index has been moving today in a range between 89.42 and    89.93, after closing 2020 at 89.94.

It is worth noting that last year the USD saw its first annual loss since 2017.