The dollar surrendered minimal gains to commodity prices on Tuesday as oil prices regained momentum. However, it hung on against the yuan as investors weighed optimism about COVID-19 recovery in China against concerns about U.S.-China dispute.
The Australian and New Zealand dollars advanced further, recovering from Monday’s decline. Upbeat activity drove Aussie at $0.6445 and the kiwi at $0.6062.
The yuan increased to 7.1190 per dollar in offshore trade. It recovered from a six-week low record last session but still defeated compared to its performance last month.
Public holidays in Japan and China eased trade tensions but further moves were capped by investors’ dire speculation on the global growth outlook. Approaching Australian and New Zealand central bank meetings also brought caution.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...