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

Newsquawk Week Forward: Nvidia earnings, FOMC Minutes, US PCE, RBNZ, Aussie CPI, OPEC JMMC

Mon: US Vacation (Memorial Day), UK Vacation (Financial institution Vacation)Tue: NBH Coverage Announcement; German GfK (Jun), French Prelim. CPI (Could), EZ Shopper Confidence (Could), US Sturdy Items (Apr), Dallas Fed (Could)Wed: RBNZ Coverage...

Why a brand new anti-revenge porn legislation has free speech consultants alarmed 

Privateness and digital rights advocates are elevating alarms over a legislation that many would anticipate them to cheer: a federal crackdown on revenge porn and AI-generated deepfakes.  The newly signed Take It Down Act...

The Solely Math That Issues in Buying and selling

Let’s be sincere—most merchants didn’t get into this recreation as a result of they love math. However right here’s the reality: if you wish to be constantly worthwhile, that is the maths you...

Dangerous tokenomics kill good tasks (right here’s learn how to enhance them)

The next is a visitor publish and opinion of Arthur Iinuma, Principal guide and Founding father of Iinuma.io.Whereas good tokenomics can't save unsound tasks, even probably the most promising community launches can fail...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com