U.S. Dollar Appreciates Amid Rise In Infections
June 24 2020 - 04:20AM
RTTF2
The U.S. dollar climbed against its major counterparts in the
European session on Wednesday, as rising coronavirus infection
cases in the United States and elsewhere soured market
sentiment.
Tokyo reported a jump in infections to mark its highest daily
tally since May 5 while Germany reported 712 new cases, fueling
concerns about a second wave of coronavirus infections.
New infections rose 25 percent in the United States in the week
ended June 21 and the death toll in Latin America passed 100,000 on
Tuesday, according to a Reuters analysis and tally.
Anthony Fauci, the top virus expert in the U.S., told Congress
on Tuesday that the next two weeks would be critical in trying to
keep the virus under control.
The European Union may impose a ban on American travellers when
it eases controls on its external borders.
U.S. Treasury Secretary Steven Mnuchin said the Trump
administration is discussing another stimulus package that could be
passed in July.
The greenback rose to 1.1269 against the euro and 0.9461 against
the franc, from its early lows of 1.1326 and 0.9433, respectively.
The greenback is seen finding resistance around 1.10 against the
euro and 0.97 against the franc.
The greenback firmed to 2-day highs of 1.3584 against the loonie
and 0.6423 against the kiwi, off its early lows of 1.3528 and
0.6514, respectively. The greenback is likely to find resistance
around 1.37 against the loonie and 0.62 against the kiwi.
The greenback reversed from an early 6-day low of 1.2543 against
the pound and rose to 1.2466. Against the aussie and the yen, the
greenback climbed to 0.6897 and 106.65, respectively. Next key
resistance for the greenback is seen around 1.22 against the pound,
0.64 against the aussie and 108.00 against the yen.
The Federal Housing Finance Agency's U.S. house price index for
April will be issued at 9.00 am ET.
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