Dollar eases as China reportedly mulls reducing quarantine period


There’s a bit of suspicion of MOF intervention at first but that doesn’t look likely to be the case considering how quickly USD/JPY was not really affected. Instead, the dollar was seen weakening elsewhere and this was the initial GBP/USD reaction:

Instead, it looks like headlines involving China are at work here with the country’s officials said to be considering to cut inbound quarantine measures from 10 days to 7 days. In turn, that is also seeing the offshore yuan strengthen considerably against the dollar:

That seems to be the sudden cause for the moves in FX amid the transition from Asia to Europe at the moment.

It’s a tricky period when reading FX moves now as we could get Japan MOF intervention at any point, so keep your eyes and ears peeled.

In any case, I don’t see this headline as being a game changer for the dollar – especially not with equities and bonds still under pressure. At most, it takes away just one part of the strong tailwind for the greenback at the moment.



Source link

Related articles

Kevin O’Leary: Establishments Gained’t Contact Ethereum—Bitcoin Is Their Solely Play

In a current interview, Shark Tank character Kevin O’Leary, generally known as “Mr. Great,” remarked that when substantial capital flows into the crypto sector, it inevitably gravitates towards the flagship digital asset, bitcoin....

The Most Bullish and Bearish Candlestick Patterns You Ought to Know

If you wish to get higher at studying charts, it's important to perceive candlestick patterns. They’re the real-time story of who’s successful the battle — patrons or sellers — they usually may give you...

Equinor sells stake in Brazil’s Peregrino discipline to Prio for $3.5 billion

Picture credit score: Felipe Torres, Equinor. Equinor has entered into agreements with Brazilian firm PRIO to promote its 60% operated curiosity within the Peregrino discipline in Brazil for a complete worth of $3.5 billion...

After the newest One UI 7 difficulty, I can’t advocate Samsung telephones

Ryan Haines / Android AuthorityShortly after Galaxy S23 house owners up to date to One UI 7, many seen a number of issues had been lacking. Log video help, Movement Photographs, AI Audio...

Arizona governor vetoes invoice to make Bitcoin a part of state reserves

Arizona Governor Katie Hobbs has vetoed a invoice that might have allowed the state to carry Bitcoin as a part of its official reserves, successfully ending efforts to make Arizona the primary US...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com