Renewed concern on virus; USD set for weekly gain
The US dollar fell lower early in the trading session but is still on track to end the week with a gain. The greenback remains supported by investors seeking safe haven assets as focus remains on potential second wave of the coronavirus. G10 currencies remain within a tight trading range.
June 19, 2020
EUR/USD 1.1233 GBP/USD 1.2386 USD/CAD 1.3569 AUD/USD 0.6894 USD/JPY 106.8800 USD/CNH 7.0677 USD/ILS 3.4455 USD/MXN 22.5581 USD/CHF 0.9496 USD/INR 76.1913
USDThe dollar index fell lower after China reported that the country plans to accelerate purchases of farm goods from America to comply with the phase one trade deal. The Bloomberg Dollar Spot Index is on track to end the week with a gain of 0.3% to add to last week’s gain of 0.4%.GBPGBP/USD fell to 1.2361 weakening as much as 0.5% as demand for sterling options increase ahead of a Brexit deadline. For the first time since 1963, the UK debt level reached 100% of GDP. The currency pair has since rebounded trading back above 1.2400.EURA statement from German Chancellor Merkel and ECB President Lagarde said that EU negotiators need to deliver on stimulus. EUR/USD popped higher this morning trading up to 1.1254.CADThe Canadian dollar strengthened as commodity prices traded higher and risk sentiment improved. USD/CAD fell below 1.3550 and is currently hovering around that level.ASIA/PACIFICThe Japanese yen was little changed but advanced slightly against peers as hospitalizations in Beijing and a few US states increase as the corona virus continues to spread.
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