U.S. Dollar Rises as COVID-19 Fatalities Drop By Investing.com

  


© Reuters.

By Gina Lee

Investing.com – The U.S. dollar inched up in Asia on Monday as cities hard hit by the COVID-19 virus reported a decline in fatalities over the weekend.

But Friday’s report of a 701,000 reduction in U.S. non-farm payrolls put a damper on investor expectations as the economic damage from pandemic-induced lockdowns becomes apparent.

The  that tracks the greenback against a basket of other currencies gained 0.12% to 100.795 by 10:40 PM ET (3:40 AM GMT).

The  pair gained 0.13% to 1.1656 as Prime Minister Boris Johnson was hospitalized for tests on Sunday.

The  pair flattened earlier losses, gaining 0.42% to 108.92 even as Japan is expected to declare a state of emergency by Tuesday.

“When a head of state or government is stricken like this, it will cause concern for holders of sterling and sterling assets,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities, told CNBC.

“Coronavirus cases in Japan may not peak for another month, so the markets will think that now it’s Japan’s turn. A state of emergency is necessary, but this could be yen negative,” Yamamoto added.

Down Under, the  pair gained 0.38% to 0.6018 and the  pair gained 0.07% to 0.5872.

The pair was unchanged at 7.0928. Chinese stock markets are closed today for a public holiday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Read More…