Dollar Up as Investors Prepare for Tough Quarter

Dollar Up as Investors Prepare for Tough Quarter




imageForex16 hours ago (Apr 19, 2020 11:43PM ET)
image

(C) Reuters.

By Gina Lee

Investing.com – The U.S. dollar was up on Monday morning in Asia as investors braced for a tough quarter ahead.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies gained 0.14% to 99.975 by 11:31 PM ET (4:31 AM GMT).

“Hurdles facing optimists are very substantial,” warned Sean Callow, Westpac FX analyst, in a CNBC interview.

“We’re three weeks into a quarter that globally looks as though it’s going to be the worst in many decades. For us, while the momentum may be with risk appetite for a little bit longer, we think it is very fragile and has to pull back very soon.”

The USD/JPY pair gained 0.28% to 107.81.

The USD/CNY pair rose 0.08% to 7.0769 as China’s central bank announced a 20-point cut in its one-year rate to 3.85%.

The risk-sensitive Antipodean currencies reported losses as investors’ risk appetite soured. The AUD/USD pair lost 0.22% to 0.6343 and the NZD/USD pair lost 0.02% to 0.6023.

New Zealand will announce whether it will lift or extend its COVID-19 lockdown later in the day.

The GBP/USD pair dropped 0.18% to 1.2477 as a senior British minister said that Britain is not considering lifting its lockdown the day before.

But some investors are cautiously hopeful that the worst of the pandemic could be loosening its grip on the global economy.

“We are coming into the eye of the storm,” Chris Weston, head of research at brokerage Pepperstone, told CNBC.

“And as the market starts to focus less on virus headlines, or at least will be less sensitive to better news, we will focus more on the lasting effects on the economy and solvency.”

Dollar Up as Investors Prepare for Tough Quarter

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

image

Our Apps

DOWNLOAD APPApp store

Investing.com

(C) 2007-2020 Fusion Media Limited. All Rights Reserved

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

No Comments

Post A Comment