Advertisement
Canada markets close in 4 hours 34 minutes

  • S&P/TSX

    21,775.12
    -98.60 (-0.45%)
     

  • S&P 500

    5,008.52
    -63.11 (-1.24%)
     

  • DOW

    37,862.74
    -598.18 (-1.56%)
     

  • CAD/USD

    0.7299
    +0.0001 (+0.02%)
     

  • CRUDE OIL

    82.25
    -0.56 (-0.68%)
     

  • Bitcoin CAD

    87,071.59
    -1,823.27 (-2.05%)
     

  • CMC Crypto 200

    1,372.07
    -10.50 (-0.76%)
     

  • GOLD FUTURES

    2,344.00
    +5.60 (+0.24%)
     

  • RUSSELL 2000

    1,967.45
    -27.98 (-1.40%)
     

  • 10-Yr Bond

    4.7040
    +0.0520 (+1.12%)
     

  • NASDAQ

    15,443.64
    -269.11 (-1.71%)
     

  • VOLATILITY

    16.99
    +1.02 (+6.39%)
     

  • FTSE

    8,071.55
    +31.17 (+0.39%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6810
    -0.0009 (-0.13%)
     
BREAKING:

HONDA TO SET UP $15B EV PRODUCTION BASE IN CANADA

Automaker to get up to $5B in government assistance for EV battery, assembly plants

FOREX - U.S. Dollar Rises Amid Decreasing Appetite for Risk

Investing.com
·1 min read

By Gina Lee

Investing.com - The U.S dollar was up on Monday as the COVID-19 pandemic continues to decrease investors’ appetite for risk.

The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.35% to 98.885 by 11: 18 PM ET (4:18 AM GMT).

Ever increasing numbers of global COVID-19 cases are driving investors to seek haven in the dollar.

“After all, the dollar is a safe-haven currency,” Rodrigo Catril, senior FX strategist at National Australia Bank in Sydney, told CNBC. “It’s reflecting caution, and an uncertain market where you’re seeing a lot of illiquidity.”

ADVERTISEMENT

The USD/CNY pair clawed back from its losses earlier in the session to gain 0.01% to 7.0949.

The AUD/USD pair fell 0.42% to 0.6139 even as Treasurer Josh Frydenberg is due to announce further income support for workers later today as part of a third stimulus package as the coronavirus savages the economy. The NZD/USD pair gained 0.12% to 0.6028.

The USD/JPY pair lost earlier gains and was down 0.44% to 107.41 and the GBP/USD pair gained 0.75% to 1.2363.

“Risk aversion has been more important to the direction of the dollar than traditional interest rate differentials,” Standard Chartered (LON:STAN) analysts wrote in a note.

“For the dollar to surrender some of its recent gains, investors would need to shift their preferences back to a broader basket of safe-haven assets,” they added.

Related Articles

Hong Kong Dollar’s Best Run Since 2003 Shows No Signs of Abating

Volatile Pound Causes Hedging Headache for Virus-Stricken Firms

Dollar slows slide as investors seek shelter amid pandemic crisis