U.S. Dollar Spikes Up Amid China COVID Concerns
November 20 2022 - 11:42PM
RTTF2
The U.S. dollar appreciated against its major counterparts on
Monday, as rising virus cases in China and fresh restrictions
triggered risk aversion.
Investors are worried about further lockdowns in China after
Beijing reported three Covid-19 deaths over the weekend.
Chinese authorities told residents in Beijing's most populous
district to remain at home to contain the Covid-19 outbreak and the
country's southern metropolis of Guangzhou has been placed under a
lockdown for five days.
Investors awaited the minutes of the Federal Reserve's latest
policy meeting for more signals on the rate outlook.
The dollar index that tracks the greenback against a basket of
other currencies reached a 10-day high of 107.60.
The greenback touched 1.3426 against the loonie, its highest
level in nearly two weeks. If the greenback rises further, 1.36 is
seen as its next resistance level.
The greenback was up at 1.1807 against the pound. On the upside,
1.15 is possibly seen as its next resistance level.
The greenback edged up to 0.6120 against the kiwi, from a low of
0.6169 set at 6:50 pm ET. Next key resistance for the greenback is
possibly located near the 0.59 level.
The greenback appreciated to 10-day highs of 0.9575 against the
franc and 140.99 against the yen, off its early lows of 0.9530 and
140.16, respectively. The next possible resistance for the
greenback is seen around 0.99 against the franc and 145.00 against
the yen.
The greenback firmed to 10-day highs of 1.0250 against the euro
and 0.6632 against the aussie, after falling to 1.0333 and 0.6684,
respectively in early trades. The greenback is likely to target
resistance around 0.99 against the euro and 0.63 against the
aussie.
Euro vs US Dollar (FX:EURUSD)
Forex Chart
From Feb 2024 to Mar 2024
Euro vs US Dollar (FX:EURUSD)
Forex Chart
From Mar 2023 to Mar 2024