The U.S. dollar was mixed, rising against euro, the Swiss Franc and Australian dollar, steady versus the Japanese Yen and New Zealand dollars and falling against sterling and the Canadian dollar in Asian Market opening trades today. U.S Jobless claims rose more than expected and existing home sales rose less but the median price of a home sold rose to a new all-time high. Treasury yields resumed their slide as coronavirus cases in the U.S. rise 53% week over week with the Delta variant accounting for 83% of new cases. This variant has already prompted fresh restrictions in other parts of the world and the worry is that come fall, the same will happen in the U.S. The dollar was set to end the week close to where it started following a roller-coaster week in which currencies were tossed around by shifting risk appetite, with the market\'s focus now shifting to next week\'s U.S. Federal Reserve meeting. The dollar index is on track to advance 0.1% for the week, having barely budged overnight to stand at 92.84. In currencies today, the safe-harbor yen JPY weakened less than 0.1% during the week to trade at 110.135. The euro was 0.2% lower over the period at $1.1779 after the European Central Bank pledged to keep interest rates at record lows for even longer, as widely expected. The British pound recovered from losses as steep as 1.3% for the week to trade about 0.1% higher at $1.3775, buoyed by the recovery in risk sentiment even with COVID-19 cases broadly on the rise. The Indian Rupee opened weaker with a gap of 09 paise at 74.55/56 against its previous session’s close of 74.46/47 and is expected to trade in a range between 74.40 – 74.80 today.
Available to subscribers only!
