The safe-haven Japanese yen held largely firm on Tuesday, while risk-sensitive currencies struggled to stay afloat as coordinated moves by central banks failed to quell investor trepidation over the spreading coronovirus pandemic.
Global risk assets were routed over the past several days,with turmoil engulfing many markets on worries the outbreak and draconian containment measures could trigger steep recessions in major economies.
As a result, trading in most markets including foreign exchange is driven more by loss-reduction and other position unwinding to reduce risks or make up for losses, rather than fresh bids.
The dollar traded at 106.33 yen bouncing back from Monday's low of 105.15, but still down 1.6% so far this week, The euro last stood at $1.1176 little changed after wild gyrations on Monday.
03 Jun 2020 03:05 PM
The euro topped an 11-week high on Wednesday, on track for a seven-day winning streak
03 Jun 2020 02:34 PM
The Indian rupee fell for the first time in four sessions against the U.S. currency, as consistent dollar demand from state-run banks
03 Jun 2020 11:45 AM
Indian shares extended gains for a sixth session and the Nifty crossed the 10,000 mark for the first time since March 13, as Asia's third-largest economy gradually comes out of COVID-19 lockdowns and risk appetite picks up in global markets.
03 Jun 2020 11:16 AM
The yuan took a breather on Wednesday after strengthening against the dollar for four straight days
03 Jun 2020 10:45 AM
Gold traded steady on Wednesday after snapping a three-session winning streak in the previous day, as a rally in equity markets on hopes of more stimulus offset some support from a weaker dollar.
03 Jun 2020 10:32 AM
Indian rupee hit the highest level in five weeks and was at 75.23/75.24 to the dollar against 75.3625/75.3725 in the previous session