• Home
  • Contact Us
  • Privacy & Policy
Wednesday, May 25, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Forex

Dollar falls against commodity currencies but holds gains versus yen

by admin
April 2, 2021
in Forex
0
Dollar falls against commodity currencies but holds gains versus yen
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


The dollar fell against the currencies of major commodity exporters on Monday as investors increased bets on countries that will benefit from rising prices for oil, metals, and other goods. The dollar also fell slightly against the British pound and the euro, but held at multi-month highs against the yen and the Swiss franc because of rising Treasury yields.

Analysts said that sentiment for the dollar has improved because of positive economic data and progress in passing a $1.9trillion stimulus package, but that the greenback would continue to struggle against commodity currencies amid strong expectations for a rebound in global trade. “We are seeing a significant divergence in the dollar,” said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities.

“Commodity prices simply aren’t coming down, so there’s noway the dollar can rise against the Aussie and kiwi. However,the dollar will remain strong against the yen because yields are the main driver.”

The Australian dollar rose 0.3% to $0.7702, while the New Zealand dollar gained 0.18% to reach $0.7177.The antipodean currencies are both in demand because of their links to the global commodities trade.

The U.S. currency fell 0.38% against the Norwegian crown to 8.5283 and eased slightly to 1.2637 Canadian dollars as traders bought the currencies of oil exporters. Some traders said a jump in Brent crude futures above $70 a barrel for the first time in more than a year triggered a flurry of bids for commodity currencies at the start of Asian trading.

Against the euro, the dollar eased slightly to$1.1921, but held steady at $1.3844 against the British pound. The dollar index against a basket of six major currencies stood at 91.895, not far from a three-month high reached on Friday after data showed the U.S. economy created more than twice as many jobs as expected in February.

Speculators cut their net short dollar positions in the latest week to $27.80 billion, which is the smallest short position since Dec. 15 and suggests that dollar bears are giving up on betting against the greenback.

The dollar traded at 108.35 yen, close to anine-month high.

The dollar was also buoyant against the Swissfranc, trading near an eight-month high of 0.9319,boosted by rising Treasury yields.

Tags: commodityCurrenciesdollarFallsgainsglobal currenciesholdsus dollaryen
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022

Being in a wedding party costs an average $825. How to avoid debt and regret

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0

Being in a wedding party costs an average $825. How to avoid debt and regret

May 25, 2022
Dollar and Yen Recovering, Markets Stay Indecisive – Action Forex

Dollar and Yen Recovering, Markets Stay Indecisive – Action Forex

May 25, 2022

Stock market news live updates: Stocks drift higher as traders await Fed meeting minutes

May 25, 2022

Crypto Billionaire Says He May Shell Out $1 Billion On The 2024 U.S. Election | Bitcoinist.com

May 25, 2022

Recent News

Being in a wedding party costs an average $825. How to avoid debt and regret

May 25, 2022
Dollar and Yen Recovering, Markets Stay Indecisive – Action Forex

Dollar and Yen Recovering, Markets Stay Indecisive – Action Forex

May 25, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.