StockTop News

Dollar Down as Investors Await Fed Interest Rate Decision

3 Mins read




imageForex9 hours ago (Apr 28, 2020 11:23PM ET)
image

(C) Reuters.

By Gina Lee

Investing.com – The dollar was down on Wednesday morning in Asia with investors awaiting the results of a U.S. Federal Reserve meeting later in the day.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies slipped 0.15% to 99.785 by 11:14 PM ET (4:14 AM GMT), with stocks recording gains and investors retreating from the greenback, traditionally viewed as a safe haven.

Investors are looking to the Fed meeting for clues on its future policy in the aftermath of the ‘unlimited quantitative easing’ unleashed over the past two months to combat the economic impact of the COVID-19 pandemic.

The European Central Bank will also meet on Thursday.

The USD/JPY pair was down 0.28% to 106.56. The yen is also viewed as a safe haven by investors.

The AUD/USD pair gained 0.53% to 0.6525 and the NZD/USD pair gained 0.64% to 0.6093, as the Antipodean currencies benefitted from investors’ increased risk appetite.

As Australia and New Zealand eased some of their lockdown measures implemented to curb the spread COVID-19, the AUD has especially benefitted as it rose 6% on the month and jumped 18% from its 17-year-low in March.

“This is quite extraordinary,” National Australia Bank’s head of FX strategy, Ray Attrill, told CNBC.

But he added, “It didn’t underperform the G10 pack by nearly as much in March and does leave us a little cautious about the near-term outlook.”

The USD/CNY pair held steady at 7.0777 and the GBP/USD pair gained 0.39% to 1.2470.

Dollar Down as Investors Await Fed Interest Rate Decision

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

image

Our Apps

DOWNLOAD APPApp store

Investing.com

(C) 2007-2020 Fusion Media Limited. All Rights Reserved

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related posts
EconomyInvestor StrategyTop News

Regional Updates (09/29/30)

3 Mins read
Bill creating Basilan State University gets House nod THE HOUSE of Representatives approved on third and final reading a bill that will…
Editor's PickInvestor StrategyTop News

Job Support Scheme: It’s tipped the balance in favour of keeping staff for most (but not all) employers

3 Mins read
The new Job Support Scheme is welcome news for many small and medium-sized businesses that have been desperately trying to retain…
EconomyInvestor StrategyTop News

Pandemic continues to dampen economic prospects in East Asia and the Pacific region

1 Mins read
THE Philippines faces the prospect of an “uneven” and “volatile” economic recovery as it struggles to control the coronavirus disease 2019 (COVID-19)…
Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Leave a Reply

Your email address will not be published. Required fields are marked *