Connect with us

Hi, what are you looking for?

Forex

Dollar Up, Remains Near Almost-Ten Month Highs Due to Risk Aversion By Investing.com

Dollar in Narrow Range as Fed Officials Continue to Downplay Inflation Fears


© Reuters.

By Gina Lee

Investing.com – The dollar was up on Friday morning in Asia, , as persistent COVID-19 concerns continued to give the safe-haven asset a boost.

The that tracks the greenback against a basket of other currencies inched up 0.01% to 93.602 by 10:33 PM ET (10:33 AM GMT).

The pair inched up 0.01% to 109.73.

The pair edged down 0.17% to 0.7134 and the pair was down 0.29% to 0.6882.

The pair edged up 0.14% to 6.5032. The People’s Bank of China released its latest earlier in the day, with the one-year LPR remaining unchanged at 3.85% and the five-year LPR at 4.65%.

The pair inched down 0.10% to 1.3624.

The , which hinted that asset tapering could start as soon as 2021, also continued to give the U.S. currency a boost. Investors will now look ahead to the Fed’s Jackson Hole symposium, taking place from Aug. 26 to 28, for more clues to an asset tapering and interest rate hike timetable.

However, COVID-19 and its Delta strain continue their relentless upward tick, with the U.S. reporting the most deaths since February 2021.

Riskier currencies also suffered losses, with the Australian and New Zealand dollars remaining near nine-month lows.

“Risk aversion in the air has buoyed the greenback, with pro-growth currencies bearing the brunt of it,” National Australia Bank (OTC:) strategist Rodrigo Catril said in a note.

The Australian dollar has fallen 3% so far during the week and was on track for its worst performance since September 2020 as much of the country remains under lockdown to curb the latest COVID-19 outbreak.

Across the Tasman Sea, the New Zealand dollar has sunk 2.9% for the week, also its lowest level since September 2020, as the delayed hiking its interest rate as it handed down its policy decision earlier in the week. The country remains under lockdown as it deals with its own COVID-19 outbreak.

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.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Technology

Cybercriminals Adopt the Blockchain to Broadcast confidential Messages A group of analysts from SophosLabs represents that programmers working the crypto-jacking malware, Glupteba, have been...

Technology

PUBG unban in India soon as PUBG Corp. Will The Government Of India Unban PUBG? PUBG Mobile was Ban in India, PUBG organization has...

Technology

A standard method to execute Bitcoin could be powerless against double-spending, the new examination has found. Blockchain sleuths at ZenGo, a wallet startup, have...

BlockChain News

HDD mining, also known as “storage mining”, is a process of obtaining cryptocurrency based on hard disk memory. Compared with traditional POW mining, hard...