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Dollar clings on to gains on fears of new COVID-19 cases

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Dollar clings on to gains on fears of new COVID-19 cases   Toggle navigation HomeWell-nighus Corona Virus Cinema News Technology Trending news Public News Sports Contact US Home Trending news Dollar clings on to gains on fears of new COVID-19 cases, U.S.-Sino tensions Dollar clings on to gains on fears of new COVID-19 cases, U.S.-Sino tensions Tags: COVID-19, Donald Trump, Federal Reserve, global, lockdown, Sino tensions, US Dollar, USA The U.S. dollar clung on to gains on Tuesday on growing fears well-nigh a second wave of coronavirus infections and without the Federal Reserve played lanugo the likelihood of negative U.S. interest rates, boosting the currency’s yield attraction. Fed policymakers say they will do what it takes to cocoon an economy crushed by widespread lockdowns aimed at slowing the spread of the coronavirus, but will likely stop short of wearing interest rates to unelevated zero. New coronavirus infections have been found in China, South Korea and Germany, where respective governments have eased lockdown restrictions. A re-emergence of novel coronavirus cases could wafer a global economic recovery which was supposed to be propelled by an injection of monetary and fiscal stimulus. “While the numbers of cases was relatively small, they do play into market fears over the threat posed by a second wave of COVID-19 infections and highlight the challenging path superiority for the global economy,” said Lee Hardman, currency reviewer at MUFG. The euro was last up slightly versus the U.S. currency at $1.0818, though still not too far from the $1.0636 low touched at the end of March when the pandemic sent markets into turmoil. Other majors nursed losses, except the yen which increased by 0.1% to 107.55 versus the dollar. The Australian dollar was the biggest mover in Asian trading, dipping to a five-day low of 0.6432 without China vetoed some Australian meat imports. It later pared losses as Australia’s trade minister played lanugo the issue as a technicality. The Nordic currencies rose, however, with the Norwegian crown last up 0.5% at 10.2440. Richard Falkenhäll, senior FX strategist at SEB, said investors were anticipating NorgesWallownership increasingly crowns going forward as the country looks to widen its fiscal deficit, supporting it with wanted from the government’s oil fund. Norway will sharply raise spending this year from its trillion-dollar sovereign wealth fund, the government said on Tuesday, exceeding a self-imposed cap for the first time in over a decade to aid an economy reeling from the coronavirus crisis. As the fund is denominated in foreign currency, this would lead to increasingly crown buying, Falkenhäll said, subtracting SEB expects the inside wall to increase purchases to 2.2 billion crowns a day from the current 2.1 billion. The Swedish crown followed suit, rising 0.4% to 9.8205. The greenback overall was supported by the possibility of U.S. President Donald Trump instructing a federal pension fund not to buy Chinese equities, making investors cautious on U.S.-Sino relations. The White House on Monday named three nominees to sit on a workbench that oversees federal employee pension funds, a move that could see the reversal of a visualization to indulge one of the funds to invest in Chinese companies under scrutiny from Washington. Trump moreover said he opposed re-opening “Phase 1” trade negotiations without China’s state-run Global Times floated the idea on Monday. Traders will be looking for Fed Chairman Jerome Powell’s speech on current economic issues on Wednesday, during which he will be scrutinised on his views well-nigh the future of the monetary policy. Share this post: on Twitter on Facebook on LinkedIn Leave a Reply Cancel replyYour email write will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Search for: Recent Posts How to Access the Dark Web & Deep Web on Your iPhone African e-commerce giant Jumia cuts costs, hopes for lockdown uplift Dollar clings on to gains on fears of new COVID-19 cases, U.S.-Sino tensions Japan c.bank, govt signal increasingly steps to ease funding strains Motor racing: Roberts joins Williams F1 from McLaren as managing director Recent CommentsCommenter on Ireland’s tour of Zimbabwe postponedArchives May 2020 April 2020 March 2020 Categories Cinema News Corona Virus Public News Sports Technology Trending news Lambet Tech Business Solutions Pvt Ltd,. Copyright 2017