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JAPANESE YEN
Amid rising COVID-19 caseloads and other militating factors, the greenback recently surged high.
Currency traders are now adding more bets on the U.S dollar especially against the euro.
The US dollar is stronger this morning on the back of a marked drop in risk appetite in European and US markets.
The Fed's message is that policy will remain accommodative, but there is no real appetite for adding to the easing.
Tether treasury minted a whopping 250 million USDT, as seen on Whale Alert
Many currency traders believe that the U.S dollar index is showing an oversold signal.
The US dollar is weaker as traders placed a very dovish spin of the Fed shift to inflation targeting.
The U.S. Dollar Index tracks the American dollar against other major currencies.
The drop is speculated to have been caused by the high number of Americans who claimed unemployment benefits.
Tether accounts for 93% of stablecoin use in the region.
This is the longest losing streak recorded by the safe-haven currency in ten years.
Currencies tracked by the U.S dollar index include; euro, British pounds sterling, and the Japanese yen.