The safe-haven U.S. dollar languished near three-year lows versus riskier currencies on Thursday as stocks rallied and continued dovish signals from the Federal Reserve stoked reflation bets. Britain’s progress in recovering from the coronavirus pandemic is cheered.

Risk-sensitive currencies and commodities currencies rose, pushing to their highest levels since early 2018, as investors increased bets of extended easy monetary conditions globally boosted appetite for riskier assets.

The dollar nursed losses near a six-week low on Tuesday, as investors’ focus shifted to how U.S. Federal Reserve chief Jerome Powell might respond to resurgent inflation expectations, set later today. Commodity-linked currencies loitered around multi-year highs as rising commodity prices boosted market.

The U.S. dollar was under pressure on the back of improved riskier asset demand, as investors cheered vaccine progress and wagered on the pandemic recovery bringing a global trade boom and an export windfall, on top of the rising U.S. Treasury yields.

The U.S. dollar stabilized on Friday after a recent decline as fresh worries about the coronavirus and the global economy prompted investors to hang on to the safe-haven currency. Unexpected increase in U.S. weekly jobless claims soured the economic outlook. Bitcoin remained above $51k & Ethereum at record high again.

The dollar held its ground on Thursday as upbeat economic data bolstered expectations that the U.S. economy would recover from the coronavirus pandemic faster than most of its peers. Minutes from FOMC meeting weighted on sentiment.

U.S. Treasury yields lending support to the dollar as it hit a 1-year highs on Wednesday,  driven by increasing inflationary concerns amid a rise in energy prices along with the prospect of a big U.S. fiscal stimulus and the global recovery. Bitcoin hit $50,000 for the first time.

The U.S. dollar fell on Tuesday, with traders looking ahead to an expected economic recovery. The euro and Swiss franc extend their 2-day rally to new weekly high, while the British pound hitting its highest level since April 2018.

The US dollar started the week pinned near 2-week lows on Monday as traders questioned whether the recovery from the pandemic in the US would be as fast as expected. Bitcoin pulled back from a record high. Oil-exporting countries currencies traded well, supported by higher oil prices.

The dollar was pinned near two-week lows through a holiday-thinned Asia session on Thursday, after soft U.S. inflation and another Federal Reserve promise to keep rates low reinforced expectations of limited returns from the reserve currency.

Demand for safer assets fade on Wednesday, with traders looking ahead to an expected economic recovery.Against the dollar, the euro extending its rebound from a 2-month low, while the British pound hitting its highest level since April 2018, and the Swiss franc renew another weekly high.

The dollar slumped to its lowest in a week on Tuesday weighted by a large fiscal spending expectation, dovish Fed policy and a rally in the stocks. Bitcoin touche a new record high.