US dollar down against peers as debate on US fiscal stimulus continues
August 5, 2020
EUR/USD 1.1887 GBP/USD 1.3139 USD/CAD 1.3254 AUD/USD 0.7230 USD/JPY 105.4400 USD/CNH 6.9381 USD/ILS 3.4049 USD/MXN 22.4568 USD/CHF 0.9065 USD/INR 74.9350
The Bloomberg Dollar Index fell for a second day amidst escalating tensions in the Middle East after an explosion in Beirut and delay on US fiscal stimulus decision. Commodity-linked currencies advanced versus the greenback including the Norwegian krone which strengthened more than 1%.GBP
Sterling reverses its three-day losing streak as the market anticipates a Bank of England monetary policy decision tomorrow. GBP/USD hit a high of 1.3149 and continues to hold above the 1.31 level.EUREurozone PMI's were released for the month of July signaling growth in services and good-producing. EUR/USD rallies on this data trading to a high of 1.1881.CAD
The Canadian dollar is on track for a fourth straight session of gains with the currency pair trading around 1.3250. WTI oil climbed to a five-month high as oil prices traded above $42/bbl.ASIA/PACIFICUSD/JPY fell below the 106 handle as the US dollar weakened across the board. The Japanese yen is broadly lower against other peers as investors shift towards risk-on trading.
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