FX News Today: On risk aversion, the dollar rise gains momentum

On Friday, August 25, 2022, the most recent Forex news will be released. The slowdown of the global economy due to the protracted Russia-Ukraine war

April 26, 2022 - 09:37 AM 255 views

FX News Today: On risk aversion, the dollar rise gains momentum

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© FX News Today: On risk aversion, the dollar rise gains momentum

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On Friday, August 25, 2022, the most recent Forex news will be released.

The slowdown of the global economy due to the protracted Russia-Ukraine war, the implementation of coronavirus lockdowns in China, and the majority of central banks' decisions to tighten their monetary policies has raised concerns among global investors.

Despite these several negative global economic conditions, the US dollar has continued to go strong and gather strength, and the greenback (DXY) reached its highest level in more than two years at 101.73 on early Monday. The strong negativity in the global economic market has led the US stock index futures to fall by 0.7% to 0.8%. As per the IFO business sentiment survey from Germany, the 10-year old US Treasury bond has lost more than 2%.

  1. EUR/USD: The victory of Emmanuel Macron in the second round of the French elections created positive vibes in investors by recovering a small portion of their daily losses with a touch of 1.0700 during the Asian trading hours, but it quickly reversed as the trading went below 1.0750.
  1. The GBP/USD currency pair lost 1.5% on Friday when the Great British pound underwent heavy selling pressure on the back of disappointing macroeconomic data releases.
  1. Despite the fall in the US Treasury bond, gold is still struggling to find demand at the start of the week. The XAU/USD is trading below $1920 in the early morning.
  1. The Japanese Yen attracts investors as a safe haven with the USD/JPY currency pair hitting lower.

  1. In the early morning, bitcoin broke down below $40,000, and BTC/USD was losing more than 2% on a daily basis and ended at around $38,500.

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