Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Indexes  >  US Dollar Index       

US DOLLAR INDEX

SummaryChartsNews 
SummaryMost relevantAll NewsMarketScreener Strategies

Dollar off 2-month peak but on course for best week in 6 months

share with twitter share with LinkedIn share with facebook
09/25/2020 | 12:37am EDT

* Dollar recedes after Wall St rebounds on stimulus hopes

* Mood still shaky on economic, political uncertainties

* Yuan gains on WGBI inclusion, lira gains on surprise rate hike

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

TOKYO, Sept 25 (Reuters) - The U.S. dollar dipped from a two-month peak on Friday as renewed hopes of fresh U.S. stimulus eased investors' concerns about its economic recovery, while the Chinese yuan gained after the country was added to a global bond benchmark.

Still, the greenback is on track for its biggest weekly gains in almost a half year, with investors not convinced if the dollar's uptrend -- and correction in risk assets that has driven it -- has run its course.

"I personally think the dollar's rise and risk-off trade could continue. The U.S. news coverage is getting dominated by the election. Political uncertainties are likely to weigh on the markets," said Kazushige Kaida, head of FX Sales at State Street Bank's Tokyo Branch.

"That also relates to whether there will be another economic package. No one expects a deal before the election but the economy does need some kind of help by the end of year as Fed officials have said lately."

The latest data showed the number of Americans filing new claims for unemployment benefits unexpectedly increased last week in a sign the economic recovery was running out of steam as coronavirus infections and deaths continue to climb.

The dollar index moved little in Asia on Friday at 94.351 . After hitting a two-month high of 94.601 in Thursday's U.S session, the dollar retreated as stock prices got a lift on hopes that stalled U.S. stimulus talks could resume.

The index is up 1.4% this week, however, and there remain doubts over whether the U.S. can overcome divisions to agree on a package.

Further complicating the political landscape, U.S. president Donald Trump has said he would unveil his choice to replace the late Supreme Court Justice Ruth Bader Ginsburg on Saturday, a move that has drawn sharp battle lines between Republicans and Democrats.

Investors are also on edge after Trump refused to commit to a peaceful transfer of power if he lost the election.

Rises in U.S. real yields have also underpinned the dollar. The yield on 10-year U.S. inflation-protected Treasuries rose to minus 0.911%, the highest since late July.

The euro changed hands at $1.1665 after having hit a two-month low of $1.16265 on Thursday.

The dollar was little moved at 105.48 yen, staying near its highest level in over a week.

The British pound managed to stay above Wednesday's two-month lows after Britain's government launched scaled-back job support for workers hit by a resurgent COVID-19 pandemic. Sterling last stood at $1.2754.

The yuan gained, stemming its decline over the past week or so, after FTSE Russell announced it will add Chinese government bonds to its flagship World Government Bond Index (WGBI) starting in 2021.

"Foreign ownership of Chinese government bonds has picked up steadily. The inclusion in the WGBI benchmark will prompt additional foreign flows into the Chinese bond market and support the yuan," said Kevin Xie, China economist at the Commonwealth Bank in Sydney.

The renminbi traded at 6.8122 per dollar, up slightly on the day in the onshore market. It has gained around 5% from its lows in May.

The Australian dollar traded at $0.7061, having hit a two-month low of $0.7016 overnight.

The Turkish lira maintained its firm tone following a jump from Thursday's record low after the country's central bank unexpectedly hiked interest rates by 200 basis points.

The lira last stood at 7.6150 per dollar, more than 1% above its record low of 7.7170 set on Thursday. (Reporting by Hideyuki Sano; editing by Richard Pullin and Kim Coghill)


Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.04% 0.94022 Delayed Quote.2.84%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.05% 74.662 Delayed Quote.-1.91%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) 0.01% 1.06626 Delayed Quote.2.23%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) 0.02% 0.64629 Delayed Quote.-4.87%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.14% 0.71277 Delayed Quote.1.65%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) 0.00% 1.82837 Delayed Quote.-3.37%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) -0.03% 1.65851 Delayed Quote.3.97%
EURO / BRITISH POUND (EUR/GBP) -0.02% 0.90706 Delayed Quote.7.59%
EURO / US DOLLAR (EUR/USD) 0.08% 1.18215 Delayed Quote.5.68%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.05% 6.6937 Delayed Quote.-4.24%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.03% 6.7101 Delayed Quote.-3.98%
US DOLLAR / TURKISH LIRA (USD/TRY) -0.02% 8.0906 Delayed Quote.34.09%
share with twitter share with LinkedIn share with facebook
All news about US DOLLAR INDEX
05:24pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus..
DJ
04:34pStocks slide on surging COVID-19 cases, stimulus doubts; dollar rises
RE
04:24pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus..
DJ
04:01pS&P 500 down more than 2% amid stimulus deadlock
RE
03:23pDollar gains in surge in COVID cases, U.S. stimulus worries
RE
03:23pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus..
DJ
02:05pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus..
DJ
01:48pWALL STREET STOCK EXCHANGE : Stocks Slide on Coronavirus Uptick, Fading Stimulus..
DJ
12:06pWALL STREET STOCK EXCHANGE : Stocks Drop on Coronavirus Uptick, Fading Stimulus ..
DJ
11:29aWALL STREET STOCK EXCHANGE : Stocks Drop on Coronavirus Uptick, Fading Stimulus ..
DJ
More news
Chart US DOLLAR INDEX
Duration : Period :
US Dollar Index Technical Analysis Chart | MarketScreener
Full-screen chart