U.S. Dollar Climbs As Virus Worries Return
12 Giugno 2020 - 6:05AM
RTTF2
The U.S. dollar advanced against its major counterparts in the
Asian session on Friday, as heightened worries over second wave of
infections prompted investors to seek safe haven assets.
The global number of Covid-19 cases jumped to over 7.5 million,
while the death toll neared 421,000, according to Johns Hopkins
University.
The United States continues with the world's highest number of
confirmed cases followed by Brazil, Russia, India and the U.K.
As worries mount over second case of infections, U.S. Treasury
Secretary Steven Mnuchin dismissed a need for a second shutdown
even if new cases accelerate.
The greenback appreciated to an 8-day high of 1.2545 against the
pound and a 3-day high of 1.1277 against the euro, after falling to
1.2607 and 1.1316, respectively in early deals. The next possible
resistance for the greenback is seen around 1.20 against the pound
and 1.10 against the euro.
The greenback spiked up to an 11-day high of 1.3667 against the
loonie, 10-day high of 0.6800 against the aussie and a 9-day high
of 0.6394 against the kiwi, from its early lows of 1.3600, 0.6874
and 0.6448, respectively. Next key resistance for the greenback is
likely seen around 1.40 against the loonie, 0.65 against the aussie
and 0.62 against the kiwi.
The greenback hit a 2-day high of 107.33 against the yen, from a
low of 106.58 seen at 8:45 pm ET. The greenback is seen finding
resistance around the 110.00 mark.
The greenback reversed from its early low of 0.9429 against the
franc, with the pair trading at 0.9451. On the upside, 0.97 is
possibly seen as the next resistance level for the greenback.
Looking ahead, Eurozone industrial production for April is due
in the European session.
U.S. import and export prices for May and University of
Michigan's preliminary consumer sentiment for June are scheduled
for release in the New York session.
Grafico Cross US Dollar vs CAD (FX:USDCAD)
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Grafico Cross US Dollar vs CAD (FX:USDCAD)
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