U.S. Dollar Advances As Virus Worries Return
18 Settembre 2020 - 1:21PM
RTTF2
The U.S. dollar strengthened against its most major opponents in
the New York session on Friday amid safe haven appeal, as a second
wave of the coronavirus infections raised fears about the pace of
economic recovery.
Risk sentiment deteriorated after France registered 10,593 fresh
cases on Thursday, and Britain had a spike in infections.
Spain is currently battling a resurgent second wave of Covid-19
but the mortality levels are far lower than they were in
spring.
Surging coronavirus figures across Europe should serve as "a
wake-up call", Dr. Hans Kluge, regional director of The World
Health Organization in Europe, said on Thursday.
The number of new cases had doubled in more than half of
European member states in the past two weeks and we have a very
serious situation unfolding before us, he added.
The greenback climbed to 1.1826 against the euro and 0.9113
against the franc, off its previous 2-day lows of 1.1869 and
0.9073, respectively. The greenback is poised to find resistance
around 1.16 against the euro and 0.94 against the franc.
The greenback edged up to 1.2933 against the pound, reversing
from its early low of 1.3000. On the upside, 1.23 is likely seen as
the next resistance level for the greenback.
Data from the Office for National Statistics showed that UK
retail sales continued to grow in August but the pace of expansion
slowed markedly.
Retail sales volume increased 0.8 percent month-on-month in
August, but slower than July's 3.7 percent increase. Sales were
forecast to climb 0.7 percent. This was the fourth consecutive rise
in volume.
After falling to 2-day lows of 1.3137 against the loonie, 0.7334
against the aussie and 0.6798 against the kiwi in early deals, the
greenback rebounded to 1.3201, 0.7283 and 0.6758, respectively. The
greenback is seen locating resistance around 1.34 against the
loonie, 0.70 against the aussie and 0.66 against the kiwi.
In contrast, the greenback held steady against the yen, after
hitting a 1-1/2-month low of 104.27 in the European session. The
pair was worth 104.74 at Thursday's close.
Data from the Ministry of Internal Affairs and Communications
showed that Japan consumer prices rose 0.2 percent on year in
August - in line with expectations and slowing from 0.3 percent in
July.
Core CPI, which excludes volatile food costs, sank an annual 0.4
percent - again matching forecasts following the flat reading in
the previous month.
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