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The dollar languished near two-year lows on Wednesday as the United States struggled to contain a spike in coronavirus cases, dashing hopes for a quick economic recovery. The dour outlook for the world’s largest economy is expected to see the U.S. Federal Reserve sticking to a dovish stance at its Read more…
The slump in the dollar is threatening to bring to an imminent end its near-decade-long uptrend against major peers. Deutsche Bank’s Trade-Weighted Dollar Index — a gauge of the currency against the U.S.’s most important trading partners — has fallen to test the trendline in place since 2011, a break Read more…
The dollar was up on Wednesday morning in Asia, with investors turning to the safe-haven asset amid continuously-rising numbers of COVID-19 cases. Investor sentiment was further dampened over a warning from several U.S. Federal Reserve officials that the rising number of cases could jeopardize economic recovery, with some stimulus programs Read more…
The dollar held onto gains against the yen on Wednesday ahead of data expected to show U.S. manufacturing activity and hiring continued to recover from the economic shock caused by the coronavirus pandemic. The euro was hemmed into a narrow range as traders awaited data on Germany’s manufacturing sector, retail Read more…
The dollar retreated on Tuesday morning in Asia, giving up it gains from the last session as investors balance positive trade data with increasing COVID-19 figures. China reported a higher-than-expected manufacturing Purchasing Manager’s Index of 50.9 earlier in the day. Meanwhile, COVID-19 continues its rampage, with over 10.2 million cases as of Read more…
The dollar was under pressure on Wednesday, after upbeat data in Europe boosted the euro and helped stoke hopes for a global economic recovery, underpinning appetite for riskier currencies. The euro (EUR=EBS) is headed for its best month against the dollar since October, and inched higher to $1.1316 in the Read more…
The dollar was down on Friday morning in Asia, ending the week by giving up some of its earlier gains. Investors will continue to monitor the rising number of COVID-19 cases in Beijing and the U.S., with the number of cases stemming from an outbreak at Xinfadi market almost at Read more…
The dollar was up on Wednesday morning in Asia on the back of eagerly-awaited details from a U.S. Federal Reserve policy meeting scheduled for later in the day. Although investors expect no major changes, the Fed could announce steps to curb the recent rise in bond yields, which could bring Read more…
Australia’s central bank kept its interest rate and yield objectives unchanged as an abatement of the health crisis allows the economy to begin reopening. Reserve Bank of Australia Governor Philip Lowe maintained both the cash rate and three-year yield targets at 0.25% on Tuesday, as expected. The bank sharply tapered Read more…
The dollar held its own on Thursday as rising Sino-U.S. tension put crushing pressure on the Chinese yuan and proved a counterweight to optimism about the coronavirus recovery. The escalating war of words between the world’s two biggest economies also spilled over to the Australian and New Zealand dollars, as a far Read more…
