The dollar is holding its breath, anticipating the developments of Trump’s health
Monday – 18 Safar 1442 AH – 05 October 2020 CE
One hundred dollar bills (AB)
London: “Middle East Online”
The dollar index declined slightly today (Monday), as it witnessed little change from Friday’s closing, as financial markets await news about the health of US President Donald Trump and the developments in talks regarding financial aid in Washington.
On Friday, Trump announced that tests showed that he had “Covid-19”. This prompted investors to resort to safer assets, and sparked a sell-off in the stock market.
But with the start of Asian trading, Trump suddenly appeared in a parade outside the hospital he was receiving treatment, which helped improve the risk appetite.
Doctors treating Trump say he may be discharged from hospital on Monday.
“Currency traders cannot agree on a way to interpret the recent news,” said Ulrich Luichtmann, head of currency and commodity research at Commerzbank.
Investors are also awaiting developments in talks in Washington on a coronavirus-related rescue package, after House Speaker Nancy Pelosi announced yesterday that talks had been progressed.
The dollar fell slightly against a basket of currencies, but its index remained close to its recent ranges and fell less than 0.1 percent during the day to 93.785 at 06:50 GMT.
The dollar rose against the yen 0.3 percent to 105.615 at 06:59 GMT, recovering from the worst drop in more than a month on Friday.
Riskier currencies strengthened overnight, but their gains were eroded by the time European markets open.
The Australian dollar rose 0.2 percent to 0.71735. While the New Zealand dollar fell 0.1 percent to 0.6641.
The euro rose 0.1 percent to $ 1.17260 by 07:12 GMT.
The Swiss franc, which is considered a safe haven, rose after Japanese technology company (NEC) said it would buy Swiss financial software company (Avalock Group).
America
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