Dollar decline continues as investors parse economic data, earnings | Malay Mail

Monday, 13 Jul 2020 08:33 PM MYT

The dollar ended its third week of losses on Friday as investors bought into risk-sensitive currencies on bets that the worst of the pandemic’s sweeping impact was over. “We expect a broad dollar decline to continue, supporting emerging market FX and see euro/dollar at US$1.15 in 3 months,” Lars Sparresø Merklin, senior FX analyst at Danske Bank, said in a note to clients.

Hopes for development of drugs and vaccines for the disease are also supporting risk sentiment. So are economic indicators that have so far shown a recovery from lockdowns. Strategists at ING Bank said in a note that they see the dollar’s recent downtrend consolidating this week.Looming large for the single currency this week is a European Union summit on July 17-18, where leaders need to bridge gaps on a long-term budget. Investors will also watch for whether an agreement on a proposed 750 billion-euro recovery fund for the bloc emerges.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US dollar starts week on back foot ahead of data, earnings | Malay MailTOKYO, July 13 — The US dollar started the week with a soft tone today as investors looked to looming economic data from around the world and US corporate earnings to gauge whether the markets' guarded optimism on the economic outlook is justified. The greenback ended its third week of losses on...
Source: malaymail - 🏆 1. / 86 Read more »