Saturday, 11 July 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Dollar Hovers Near 7-Week Low as Fed Officials Open Door For Rate Cut

The dollar struggled to bounce off seven-week lows on Wednesday after U.S. central bank officials hinted at the possibility of an interest rate cut in the face of rising risks to trade and global growth.

Federal Reserve Chairman Jerome Powell on Tuesday dropped his standard reference to the Fed being œpatient in approaching any rate decision, saying instead the central bank will respond as œas appropriate to trade pressure.

The dollar index against a basket of six peers barely budged, moving up 0.03% at 97.105, within reach of a recent low of 96.995 - its lowest since April 18. It has now fallen 1.3% from a more than two-year high of 98.371 touched on May 23.

On Wednesday, the Australian dollar rose 0.05% to $0.6994 ahead of the release of first-quarter gross domestic product data due at 0130 GMT.

The euro was up 0.05% at $1.1257, extending its gains to a fourth session.

Against the yen, the dollar held steady at 108.165 yen per dollar, within striking distance of a near five-month high of 107.845 - its highest since Jan. 10 - hit during the previous session.

Source : Reuters

RELATED NEWS
Yen Rises on Renewed Surge In Virus Cases; Dollar Index Falls...
Friday, 10 July 2020 23:28 WIB

The safe-haven Japanese yen climbed to a two-week peak against the dollar on Friday, lifted by concerns about a surge in coronavirus infections in the United States and around the world. The yen was o...

Japanese Yen Gains as Virus Caution Weighs...
Friday, 10 July 2020 15:52 WIB

The dollar paused on Friday as concerns about a surge in coronavirus infections in the United States and elsewhere supported the safe haven Japanese yen, while risk-sensitive currencies lost ground. ...

Dollar rises from four-week low as US stocks retreat...
Thursday, 9 July 2020 23:28 WIB

The dollar rallied from a four-week low in choppy trading on Thursday, enhancing the greenback's safe-haven appeal, as U.S. stocks fell with market sentiment turning cautious as the United States hit ...

Dollar Gives Ground to Higher-Risk Currencies as Chinese Shares Soar...
Thursday, 9 July 2020 15:12 WIB

The U.S. dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency. China's yuan rose ...

Dollar Retreats Over Increased Hopes of Economic Recovery...
Thursday, 9 July 2020 13:16 WIB

The dollar was down on Thursday morning in Asia, with investors retreating from the safe-haven asset over increased hopes of an economic recovery. Corporate earnings from U.S. companies such as Apple...

LATEST NEWS
Dow ends nearly 370 points higher as Nasdaq logs another record close

Stocks ended higher in thin trade Friday, getting a lift from positive news on a coronavirus treatment. The Dow Jones Industrial Average rose around 369 points, or 1.4%, to end near 26,075, according to preliminary figures, while the S&P 500...

Hong Kong Stocks End With Deep Losses (Review)

Hong Kong stocks closed sharply lower Friday, in line with an Asia-wide sell-off, with investors also spooked by fresh infections in the city that have led to the reimposition of containment measures including school closures. The Hang Seng Index...

Oil climbs, but U.S. benchmark ends lower for the week as IEA warns of coronavirus risk

Oil futures climbed on Friday, buoyed by positive results tied to a COVID-19 treatment, but U.S. prices ended lower for the week as a report from the International Energy Agency cautioned that weaker demand caused by the coronavirus pandemic will...

POPULAR NEWS
Gold futures up a fourth straight session to mark another finish at the highest since 2011
Thursday, 9 July 2020 01:11 WIB

Gold futures climbed for a fourth straight session on Wednesday to mark another finish at their highest since September 2011. The move for gold...

Gold futures pull back from a fresh 9-year peak, but hold above $1,800 an ounce
Friday, 10 July 2020 01:31 WIB

Gold futures ended lower on Thursday, pulling back a day after scoring another settlement at the highest since September 2011, but the haven metal...

Gold Futures Slip, Set to Take a Breather after Carving Out Fresh 9-Year Peak
Thursday, 9 July 2020 18:57 WIB

Gold futures edged back early Thursday, giving up some of its gains after the precious metal scored another settlement at the highest since...

Gold Rally to $1,800 Sees ETF Inflows Exceed Full-Year Record
Wednesday, 8 July 2020 15:53 WIB

Gold allure is only getting stronger as 2020 unfolds. Spot prices reached $1,800 an ounce and year-to-date inflows into bullion-backed...