Hobbled emerging market currencies will struggle over the next three months against the stronger dollar as tensions between the United States and China over the coronavirus pandemic mount, a Reuters poll of FX strategists showed.
FILE PHOTO: A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration
“This is likely to put a serious dent in the head-scratching, math-defying risk-on rally we have seen for much of the week,” said Michael Every, global strategist at Rabobank in Hong Kong. Even though the pandemic has subsided in China for now, a possible resumption of the U.S.-China trade war will nudge Beijing’s authorities to keep a tight leash on its partly managed yuan currency, the poll suggested.
“Break through the latter and we are in a dark and scary tunnel...and we don’t know if the light we see ahead is a way out or just the reflection of a monster’s eye.” “Volatility is still high from the peaks of last month. It will only subside further if we get a bit more improvement in the COVID situation and any kind of tensions between the U.S. and China don’t flare up,” Keenan added.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
B.J. Novak Anthology Series a Go at FXFX has given a series order to a half-hour anthology from former TheOffice and TheMindyProject veteran bjnovak
Read more »
U.S. dollar set to keep shining through coronavirus pandemic: Reuters pollThe U.S. dollar will continue to dominate currency markets for at least another three months as investors prefer the safety of the greenback in a world fraught with risks emanating from the coronavirus crisis, a Reuters poll showed.
Read more »
A Judge Ruled Against the USWNT's Equal Pay Lawsuit, but They Won't Stop FightingOn Friday, May 1, US District Judge Gary Klausner ruled against the US Women's National Team in their ongoing gender discrimination lawsuit against the US
Read more »
Elizabeth Banks on Bipartisanship and Why More Men Need to Watch 'Mrs. America'Elizabeth Banks discusses her role in the star-studded FX on Hulu miniseries MrsAmerica
Read more »
Video of giant hornet attacking mouse emerges following reports of 'murder' species in U.S.Experts told Newsweek the insect appears to be a European hornet—and it may be attempting to eat the mouse.
Read more »
Top U.S. general: 'We don't know' if coronavirus emerged from Chinese labThe top U.S. general said on Tuesday it was still unknown whether the coronavirus emerged from a wet market in China, a laboratory or some other location, but reaffirmed the U.S. view that it was probably not man-made.
Read more »