The dollar hovered near a two-month peak against a basket of currencies on Monday, as doubts about recovery persisted ahead of a barrage of economic data and political developments in the United States.
FILE PHOTO: U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo
“The dollar’s rise reflects unwinding of positions. There were two main drivers, rise in real U.S. yields and risk-off trades,” said Tatsuya Chiba, manager of forex trading at Mitsubishi UFJ Trust Bank. Data on U.S. currency futures positions released on Friday also pointed to more upside potential in the dollar’s recovery, with speculators holding a big net short position in the greenback.
“We need to be wary of a weaker euro due to further unwinding of euro long positions. We have no shortage of concerns in Europe including rise of coronavirus infections in France and so on, attempts by European Central Bank policymakers to talk down the euro and Brexit,” Makoto Noji, chief currency strategist at SMBC Nikko Securities, said in report.Investors now look to the first U.S. Presidential debate on Tuesday as the election in early November has started to loom large.
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Dollar near two-month high as investors look to more data, U.S. political developmentsThe dollar hovered near a two-month peak against at a basket of currencies on Monday as investors look to a barrage of upcoming economic data and political developments in the United States before making any fresh bets on the U.S. currency.
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Dollar near two-month high as investors look to more data, U.S. political developmentsThe dollar hovered near a two-month peak against at a basket of currencies on Monday as investors look to a barrage of upcoming economic data and political developments in the United States before making any fresh bets on the U.S. currency.
Weiterlesen »
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Weiterlesen »
Chinese stocks underpin Asia; markets wary of virus spike, U.S. presidential debateChinese stocks drove Asian markets higher on Monday, though sentiment was still cautious ahead of a U.S. Presidential debate and as a spike in new coronavirus cases undermined global economic recovery hopes.
Weiterlesen »