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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Bank AG    DBK   DE0005140008


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Dollar clings to three-weeks high as yields steady

03/01/2021 | 07:32am EDT

* Bitcoin up 6%

* Euro weakens

* U.S. Treasuries stabilise

* Australian dollar bounce

* Sterling rises on bets of vaccine-led economic rebound

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

LONDON, March 1 (Reuters) - The dollar held on to three-weeks highs against major currencies on Monday as U.S. and euro zone bond yields steadied, after a fixed-income selloff in February that lifted demand for safe-haven currencies.

The Australian dollar and other riskier currencies rebounded against the U.S. dollar during trading hours in Asia, but the greenback gradually strengthened against peers.

At 1149 GMT, the dollar index was up 0.35% to 91.07 after posting its biggest gains since June on Friday.

The euro fell 0.23% to $1.2042, after dropping 0.9% at the end of last week, the most since April.

A survey showing upbeat euro zone factory activity in February and soaring demand failed to prop up the bloc's currency.

"It's quite possible that the market is readjusting the bullish view it had on the euro at the beginning of the year", said Jane Foley, a foreign exchange strategist at Rabobank.

She noted concerns about Europe's vaccine campaigns and its growth potential while investors seeking to play the reflation trade focused on the recovering U.S. economy and the new round of stimulus of President Joe Biden.

Traders were also waiting for a speech later this afternoon by President Christine Lagarde, who is under pressure to act against rising yields in the euro zone.

"There is little doubt in my mind that central banks will eventually lean quite hard against a sustained rise in yields. They simply can’t afford to see it happen with debt so high", Deutsche Bank strategist Jim Reid told his clients in a morning note.

Yields on the benchmark 10-year German government bond retreated to -0.30% from a one-year high of -0.20% last week.

Ten-year U.S. bonds traded at 1.4376%, off Thursday's one-year high of 1.614%.

"The bond market and risk assets are showing signs of stabilisation after the big sell-off last week", ING analysts commented, expecting that "the dollar's corrective rally should pause for breath".

Early today, the risk-friendly Australian dollar jumped 0.3% to $0.7728, following a 2.1% plunge on Friday.

The Reserve Bank of Australia will hold its monthly policy meeting on Tuesday, and markets expect it to reinforce its forward guidance for three more years of near-zero rates.

The British pound drew additional support from bets on a faster vaccine-led economic recovery. Sterling rose 0.17% to $1.3945.

Against the yen, the dollar hit a six-month high of 106.75.

In cryptocurrency markets, bitcoin rose 5.9% to $47,910 but was still off a record high of $58,354.14 hit on Feb. 21.

(Reporting by Julien Ponthus, editing by Larry King)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.03% 0.95418 Delayed Quote.-1.68%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.03% 0.6401 Delayed Quote.2.00%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) -0.03% 83.561 Delayed Quote.5.40%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) -0.07% 1.08278 Delayed Quote.1.29%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) 0.10% 0.70432 Delayed Quote.3.93%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.00% 0.7621 Delayed Quote.-0.49%
BITCOIN - EURO 0.44% 48897.25 Real-time Quote.107.14%
BITCOIN - UNITED STATES DOLLAR 0.23% 58126.64 Real-time Quote.101.20%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) -0.01% 1.7984 Delayed Quote.1.02%
BRITISH POUND / JAPANESE YEN (GBP/JPY) -0.03% 150.285 Delayed Quote.6.42%
CANADIAN DOLLAR / AUSTRALIAN DOLLAR (CAD/AUD) 0.00% 1.04802 Delayed Quote.1.70%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.00% 0.670884 Delayed Quote.3.79%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -0.03% 87.481 Delayed Quote.7.27%
DEUTSCHE BANK AG -0.02% 10.34 Delayed Quote.15.54%
DOW JONES FXCM DOLLAR INDEX 0.00% 11861.01 Delayed Quote.1.42%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) 0.02% 1.56135 Delayed Quote.-1.93%
EURO / BRITISH POUND (EUR/GBP) -0.04% 0.86787 Delayed Quote.-2.87%
EURO / JAPANESE YEN (EUR/JPY) 0.00% 130.516 Delayed Quote.3.41%
EURO / US DOLLAR (EUR/USD) -0.05% 1.1895 Delayed Quote.-2.44%
JAPANESE YEN / SWISS FRANC (JPY/CHF) 0.04% 0.8425 Delayed Quote.-1.40%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.05% 77.137 Delayed Quote.4.15%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.00% 109.65 Delayed Quote.5.95%
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Sales 2021 22 940 M 27 287 M 27 287 M
Net income 2021 612 M 728 M 728 M
Net cash 2021 25 034 M 29 778 M 29 778 M
P/E ratio 2021 38,1x
Yield 2021 0,44%
Capitalization 21 347 M 25 367 M 25 392 M
EV / Sales 2021 -0,16x
EV / Sales 2022 -0,48x
Nbr of Employees 84 659
Free-Float 92,8%
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Average target price 9,26 €
Last Close Price 10,34 €
Spread / Highest target 28,4%
Spread / Average Target -10,4%
Spread / Lowest Target -41,0%
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Christian Sewing Chief Executive Officer
Karl von Rohr President
James von Moltke Chief Financial Officer
Paul Achleitner Chairman-Supervisory Board
Bernd Leukert Chief Technology, Data & Innovation Officer
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