By Gina Lee
Investing.com – The dollar was up Thursday morning in Asia and recovered some of its losses from earlier in the session.
Earlier, positive investor sentiment came about the global economic recovery following the COVID-19 virus, as investors digested a dismal report from the U.S. Federal Reserve as it released its meeting minutes of the Federal Open Market Committee overnight.
The protocol warned that the COVID-19 virus posed both a serious economic threat and a risk to economic stability, but also hinted at more stimulating economic recovery measures.
“Almost everywhere, policy makers continue to emphasize that whatever resources are required will be made available,” ANZ analysts said in a note.
Tracing the greenback against a basket of other currencies slipped 0.24% to 99,370, just below the $ 100 mark, at 12:07 PM ET (5:07 AM GMT).
The pair rose 0.11% to 107.62. Japan’s finance ministry said the country took a dive of 21.9% year on year. Analyst forecasts compiled by Investing.com predicted a 22.7% drop.
The pair slid 0.54% to 0.66562 and the pair fell 0.29% to 0.6124.
The Antipodean currencies could not hold on to their gains from bullish night trading, which saw AUD hit a ten-week high and NZD see a 10-day high.
The pair rose 0.18% to 7,1056, even after a new U.S. goal by China’s handling of COVID-19 overnight.
U.S. Secretary of State Mike Pompeo said the $ 2 billion pledged by Beijing to fight the virus is “gentle compared to the costs they have imposed on the world.”
Meanwhile, the Chinese have relations with both U.S. and Australia continues to simmer in the background as the two countries join a growing group looking to explore the origins of COVID-19 and China’s handling of the virus.
The pair rose 0.13% to 1.16656 following the release of inflation data, prompting continuous speculation that the Bank of England would introduce negative interest rates.
“[The data] keeps the debate about negative rates alive and kicking, “Kit Juckes, macro strategist at Societe Generale (OTC :), told CNBC.
“Poor old sterling. There is clearly a better case for shorts in sterling / yen than the euro / yen now, and even more so in being short sterling / Aussie as well as sterling / yen, the small risk of malice and the movement increases in resource prices. “
Fusion Media or anyone involved with Fusion Media assumes no liability for any loss or damage arising from the reliance on the information, including data, offers, charts and the purchase / sale of signals on this site. Be fully informed about the risks and costs associated with trading in the financial markets, it is one of the most risky types of investment.