Coronavirus — News Archive


Pound Rallies as PM Johnson Still in ICU; UK COVID-19 Deaths Rise

The Sterling pound today rallied for the third straight session against the US dollar amid hope that Boris Johnson was recovering despite rising COVID-19 deaths in the UK. The GBP/USD currency pair posted gains as investors reacted calmly to rising coronavirus deaths in the UK and the risk posed by the pandemic to the British economy.

Chinese Yuan Weakens As Officials Weigh Additional Fiscal, Monetary Stimulus

The Chinese yuan is weakening midweek as a new report suggests officials are considering additional fiscal and monetary stimulus to rejuvenate the post-coronavirus economy. As the country gradually returns to normal and even ends the lockdown in Wuhan, authorities are discussing a wide range of options. Over fears of a second wave, China could serve as a case study for the rest of the world in what to do after COVID-19.

Euro Rallies on Hopes That Europe Is Flattening the COVID-19 Curve

The euro today rallied against the US dollar buoyed by the latter’s decline as investors favoured riskier currencies including the single currency. The EUR/USD currency pair hit new 3-day highs ending the downtrend that was in place for the past six sessions.

Pound Rallies Despite Record COVID-19 Deaths and Johnson in ICU

The Sterling pound today rallied higher against the US dollar despite the fact that the UK Prime Minister Boris Johnson being hospitalised in ICU. The GBP/USD currency pair posted gains as buyers stepped in capitalising on the greenback’s fall from recent highs.

Swiss Franc Slips As SNB’s Total Sight Deposits Surge Again

The Swiss franc is sliding against the US dollar and the euro on Tuesday as the central bank’s sight deposit holdings surged by their second-highest level in 12 months. For more than a year, Switzerland has been actively trying to depreciate the franc’s value as investors continue to pour into the traditional safe-haven asset, even as financial markets rebound. The Swiss franc has significantly appreciated throughout the turbulence, affecting the manufacturing sector and overall exporting industry.

Japanese Yen Weakens As Abe Unveils $1 Trillion Stimulus Package

The Japanese yen is losing against multiple currency pairs to start the trading week, prompted by Tokyo unveiling a massive $1 trillion stimulus package to curb the economic fallout from COVID-19. While Japan has refused to institute a nationwide lockdown, Prime Minister Shinzo Abe declared a state of emergency to prevent coronavirus infections – domestic cases have topped 4,000. Can the world’s third-largest economy come out of the public health […]

Chinese Yuan Flat As PBoC Pumps $56 Billion Liquidity for SMEs

The Chinese yuan is trading relatively flat to kick off the holiday-shortened trading week. China continued to employ monetary policy measures to resuscitate the world’s second-largest economy in the coronavirus fallout. One mechanism Beijing is utilizing to spur business activity is bank lending, offering credit to businesses – large and small. Will it be enough for companies to borrow and restart operations?

US Dollar Mixed As Coronavirus Slaughters 701k Jobs in March

The US dollar is mixed against several major currency competitors at the end of the trading week, driven by a grim portrait of the American labor market last month. Although it was a devastating jobs report, experts say that the worst is still to come as more states institute stay-at-home orders. Will the buck remain the top currency in today’s chaotic financial market?

Pound Falls on Weak UK Services PMI Report as Dollar Surges

The Sterling pound today fell against the US dollar as investors reacted to weak service PMI released by Markit Economics in the early London session. The GBP/USD came under intense selling pressure as the greenback pressed higher despite yesterday’s record high US initial jobless claims numbers.

Euro Falls to New 5-Day Lows on Record Spanish COVID-19 Deaths

The euro today fell against the US dollar as deaths from the coronavirus in Spain reached new highs even as other European countries battle the disease. The EUR/USD currency pair today fell amid high demand for the dollar and the rising tensions in the European Union as Germany and Holland refuse to support Southern states.