By Gina Lee
Investing.com – The dollar rose on Tuesday morning in Asia, with us. Treasury interest and fear of another wave or COVID-19 cases rising demand for investors for dollars.
South Korea reported 27 new cases on May 11, breaking a single digi linet cases as it facilitated social distancing measures.
The cases, mood of a nightclub in Itaewon. led the government to postpone the reopening of the colleges for the academic year.
That tracing greenback against a basket of other currencies was up 0.06% to 100.330 with 11:26 AM ET (4:26 IS GMT).
“It’s a little bit of return support (for the dollar) and a general return on nerves,” Westpac told FX analyst Sean Callow to CNBC as April’s wave of riskier currencies disappears.
“Our base case has been for a while now that risk taking was exaggerated, we just don’t think (improvement) will be a straight line,” he added.
That couple was down 0.26% to 107.38, with the yen saw a loss at night of approx. 1% to sit by bottom end of a range it has held since mid-April.
That pairs were down 0.12% to 1.2320 just after Prime Minister Boris JohnsonThe government released a 50-page plan to rebuild ”overnight.
“Mixed start of the week for the pound – with the cautious U.K. easing easing announced by Prime Minister Johnson and having a lasting impact on the currency following an initial demonstration in Asia’s early trade, “Viraj Patel, FX and global macro strategist at Arkera, told CNBC.
Instead, the dollar remains supported by rising U.S. yields. “
That ditched 0.02% to 7.0956 after Chinese consumer inflation data fell below analysts’ forecasts.
The country’s consumer price index for April fell 0.9% but rose 3.3%. That for April, 3.1% fell year-on-year.
That couple slide 0th62% to 0.6448, with AUD giving up on recent gains after the Australian newspaper reported that China had suspended some meat imports from Australian producers.
That couple was down 0.18% to 0.6068.
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