Dollar and other haven currencies rise on risk off sentiment
July 1, 2020
EUR/USD 1.1223 GBP/USD 1.2415 USD/CAD 1.3571 AUD/USD 0.6911 USD/JPY 107.44 USD/CNH 7.0677 USD/ILS 3.4548 USD/MXN 22.8625 USD/CHF 0.9472 USD/INR 75.59
The dollar is higher along with other haven currencies as global equities dip after a record quarter and bonds slip. ADP shows the US added 2.37M jobs in June – fewer than the 2.9M forecasted. FOMC minutes are due out today and the official Jobs Report is out tomorrow.GBPThe pound eased slightly and then gained ground after BOE’s Haskel made comments around activity returning faster than expected and that the central bank still has room to do more to support the economy.EUR
The euro slid versus the dollar. Italy is preparing a EUR 20B stimulus plan for approval this month aimed at softening the impacts of the pandemic. German unemployment data printed 6.4% which was slightly better than 6.6% expected.CADThe Canadian dollar is weaker versus its US counterpart as risk appetite wanes ahead of US Jobs and Manufacturing data. The pair rose 0.1% to 1.3590.ASIA/PACIFICThe yen beat the dollar as the haven currency advanced 0.4% versus the greenback. The first arrest was made in Hong Kong after the enactment of the new National Security Law. The offshore yuan hit the highest level in a week on indications that the economy is slowly rebounding.
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