The U.S. dollar pulls back from a four-month high against the Euro as appetite for risk currencies improved after the weeklong rally when investors feared the virus outbreak.
Nasdaq and S&P 500 indexes gained new highs as a top Chinese health adviser said that the outbreak might be peaking.
The coronavirus spread in China could be over in April said the country’s senior medical adviser. The World Health Organization recently said that the virus posed a global threat worse than terrorism as the death toll passed 1,000.
Virus worries caused the dollar to gain in a weeklong rally. Economic data showed that the US has stronger outlook compared to European countries.
Investors sought out carry trades as the market showed low volatility, causing the dollar consistent gains. Traders chose to borrow in low-yielding currencies and invest in high-yielding currencies like the dollar.
The euro slipped $1.0892 on Tuesday, before recovering back to $1.0923.
Jerome Powell, Chairman of the Federal Reserve said that the US’ economic outlook was good despite the potential threat of the virus on the economy.
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 ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
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 ...