TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

Dollar stands tall as COVID stalks kiwi

Mount Equity Group Tokyo, Japan > News > Markets > Dollar stands tall as COVID stalks kiwi
  • Dollar hits year-to-date high vs euro at $1.1702
  • Kiwi sent on round trip after RBNZ holds but projects hikes
  • Fed July minutes eyed at 1800 GMT

SINGAPORE, Aug 18 (Reuters) – The dollar hit a nine-month high against the euro and held broad gains elsewhere on Wednesday as investors have cut exposure to riskier currencies, mostly on virus concerns, while the kiwi was sent on a loop when central bank held fire on rate hikes.

The euro touched $1.1702 early in the Asia session, its lowest since November 2020, before recovering slightly to $1.1718.

The kiwi , heavily sold on Tuesday, fell further to also make a nine-month trough at $0.6868 after the Reserve Bank of New Zealand held off on raising rates amid a snap lockdown in the country over seven COVID-19 cases. However it soon recovered, climbing to $0.6933 because hikes were still on the horizon.

Sterling and the commodity-exposed Australian and Canadian dollars all hovered near recent lows…

Read more…