The U.S. dollar was backed on Monday amid fears about the coronavirus limitations in Asia. But investors were overwhelmed with the slowdown as the Federal Reserve kept interest rates low.
Bitcoin hit a three-month low after Tesla Inc’s (Tesla Inc.N) chief Elon Musk (ELON.N) suggested last weekend that the automaker was considering selling or possibly selling some of its holdings in cryptocurrency. Read more about studying in Pakistan
Commodity price cuts and live virus outbreaks in Singapore and Taiwan, where COVID-19 was spot, helped the dollar rise 0.3% against the Australian dollar and 0.4% against the New Zealand dollar.
The dollar was little changed against the euro and the yen. But it remains close to the test of a major support level, which, if broken, could see a return to a downtrend, pressing down until April.
The bouncing dollar on inflation data last week also faded as traders thought the Federal Reserve would keep interest rates low.
The dollar last traded at $ 1.2130 per euro and had support at $ 1.2179.Similarly, the dollar index was at 90.397 above key support at 89.677 and 89.206, bought 109.37 yen and trading at $ 0.7756 per Aussie and $ 0.7219 per kiwi.
The Fed’s minutes from earlier April meetings, surprising data on last week’s inflation, were scheduled for Wednesday and are the focus of the next market for clues on the bank’s thinking. middle
“We expect this minute … to reiterate policymakers to consider the rise in inflation temporarily,” said Kim Mundy, currency strategist at the Commonwealth Bank of Australia in Sydney.
“As a result, we do not expect (the Fed) to consider reducing purchases of assets anytime soon,” she said. “The dollar is expected to return to bearish this week after being inspired by CPI this week. Last
Cryptocurrencies It was trading under pressure after another bouncing weekend following a tweet from Tesla’s Musk suggesting the company might sell its bitcoin holdings.
Bitcoin last traded down 7.13 percent at $ 43,133, previously falling to $ 42,185, the lowest since Feb. 8.Ether slipped to a two-week low of $ 3,123.
Speculators raised their bets against the dollar last week, largely raising their bets with the euro and to a lesser extent as the UK and Europe headed for a rebound.
Sterling was at a two and a half month high on Monday at $ 1.4086 as the UK reopened four months after the COVID shutdown.
Things are traveling in the opposite direction in Asia, where early leaders in taming the epidemic are tackling a new epidemic.
Singapore and Taiwan have tighter controls as more cases hit the Singapore dollar, while the Taiwan dollar fell to a three-week low on Monday. Read more about studying in Pakistan
The onshore yuan was little changed at 6.4380 a dollar after mixed economic data showed China’s industrial output slowed and retail sales missed last month’s forecast. Read more about studying in Pakistan
Bid price in currency at 0509 GMT.
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Tokyo Forex Market Data from BOJ
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