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The dollar appreciates as the US Federal Reserve rejects interest rates below zero

rocky
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 The dollar appreciates as the US Federal Reserve rejects interest rates below zero Empty The dollar appreciates as the US Federal Reserve rejects interest rates below zero

Post by rocky on Thu 14 May 2020, 2:08 am

 The dollar appreciates as the US Federal Reserve rejects interest rates below zero

 The dollar appreciates as the US Federal Reserve rejects interest rates below zero 20754




Economy News _ Baghdad
The dollar held onto gains against major currencies Thursday, May 14 after US Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers would adopt negative interest rates.
 
Among Asian currencies, the Australian dollar fell due to data showing that the country lost jobs in April at the fastest pace ever, which indicates the possibility of more monetary and financial easing to support the economy.
 
The focus will shift to economic data from the United States and Europe in the next two days to derive more indications of how deep the downturn is there, while investors will closely follow measures of activity in China looking for indications of how long it will take the country to recover from an acute shock caused by the outbreak of the Corona virus.
 
The dollar was trading at 1.0805 against the euro today, after a 0.3% gain in the previous session.
 
Against the British pound, the dollar rose to a five-week high of $ 1.2203. The dollar hit 0.9733 Swiss francs, after rising 0.3% on Wednesday.
 
US jobless claims data is due for release later today, and a survey related to the manufacturing sector in the United States will be released tomorrow, Friday, which will provide more clues about the outlook for the economy.
 
The Australian dollar fell 0.3% to $ 0.6437 after data showed that the number of unemployed rose by 594,300 thousand in April, slightly more than the average expectation. And the unemployment rate increased to the highest level in five years.
 
The yen rose to 106.88 against the dollar as some dealers bought the Japanese currency due to risk aversion after the Nikkei fell to its lowest level in a week.
 The yen also rose against the euro and the Australian and New Zealand dollars.
 
Many investors are awaiting Friday’s announcement by China of industrial production, retail and investment data to gauge how quickly the world's second largest economy has recovered from its first contract contraction in the first quarter.
 
On the domestic market, the yuan fell slightly to 7.0990 against the dollar.


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