The Japanese yen climbed to a three-year peak against the euro and a seven-week high against the dollar on Wednesday amid a rocky global economic recovery.
The euro stood at 1.0826 against the dollar and at 115.09 against the yen.
The yen climbed to 106.22 against the dollar. Other major currencies steadied amid the U.S.-China tensions that dampened market mood.
The yen gained 2% on the dollar and almost 6% on the euro for this year. It reached a three-week high on the Korean won and nearing a month high on the Australian dollar.
The Australian and the New Zealand dollars both steadied against the dollar, trading at $0.6432 and $0.6052, respectively.
The pound firmed at $1.2431.
U.S. President Donald Trump pressed China regarding the origins of the virus again. Markets closely await Beijing’s response to Trump’s comments. An escalation of the tensions could lead to new tariffs on Chinese imports.
The Chinese yuan recovered some of its losses and traded at 7.0885 against the dollar.
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 ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...