Investors continue to liquidate their positions in “defensive assets”, which traditionally include gold, Japanese yen and Swiss franc. Now there are no reasons that can change this trend. Although the situation with the coronavirus has not been fully resolved, investors completely ignore any risks from COVID-19. Now everyone is focused on vaccination of the population, which has already begun in the world and is gaining momentum every day.

Israel is the best in this regard, where more than 90% of the population is vaccinated, Great Britain takes second place with 30%. An important factor is the growth in the yield of US 10-year Treasury bonds, which exceeds inflation, and in the past, in such a situation investors massively sold defensive assets. Now the situation is repeating itself.

Investment idea: Buy 106.95/106.79 and take profit 107.30.