New post
John Wang
in
Forex
April 20 17:56

US dollar cautiously goes up

US dollar continued to develop its earlier gains on April 20. Traders are preparing for the possible negative news concerning the coronavirus pandemic.
32
0
AT 0655 GMT the US Dollar Index gained 0.2% and stood at 100.058. GBP/USD dropped 0.3%, reaching 1.2464. USD/JPY went up 0.3%, reaching 107.86.
Some experts believe, that the economy might already be entering the worst stage of the pandemic’s impact. Head of research of Pepperstone Chris Weston claims that traders will most likely focus on the long-term consequences of the crisis, instead of the immediate news. 
The upcoming data might serve as a proof. The global markets await the news on the US unemployment, as well as eurozone polls and the easing of the national lockdowns. 
Meanwhile, euro has been once again experienced significant losses in forex trading. The currency has been impacted by the news, that EU might have to increase its relief package by 200%. EUR/USD is down 0.2%, reaching 1.0856.