The dollar firmed against the Japanese yen on Wednesday ahead of the release of U.S. manufacturing data expected to show a recovery from the pandemic.
The euro traded in a narrow range as traders waited for data on Germany’s manufacturing sector, unemployment rate, and retail sales.
The dollar stood at 107.83 on the yen, nearing its highest level in three weeks. The sentiment for the safe-haven yen soured after the Bank of Japan reported that business sentiment dropped to an 11-year low.
The euro steadied at 1.1238 on the dollar and at 90.75 pence on the pound. The sterling firmed at $1.2386.
The U.S. Institute for Supply Management’s PMI is expected to report a continued recovery in June after falling to an 11-year low in April.
In onshore trade, the yuan sat at $7.0614 as investors became cautious over the passage of the Hong Kong security law.
10-year U.S. Treasury yields traded in a narrow range around 65% since June. Fed Chairman Jerome Powell said that policymakers are considering yield curve control.
The Aussie stood at $0.6910, while the kiwi bought $0.6463.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...