The Turkish lira is recovering after crashing to a fresh record low in the middle of the trading week. The lira, which has been one of the worst-performing currencies in 2020, has repeatedly recorded all-time lows. Depleted foreign exchange reserves, slumping economic data, and geopolitical tensions – Ankara is facing pressure on many fronts, and this has weighed on the lira.
The euro today fell against the dollar before recovering to trade sideways boosted by upbeat data from across the euro area and positive market sentiment. The EUR/USD currency pair today fell to its daily lows after the release of upbeat US consumer sentiment data but recovered quickly as investor risk appetite remained elevated.
The Brazilian real is weakening against the US dollar and several other major currency counterparts on Tuesday, despite positive domestic economic data. The real has rebounded since hitting a record low against the greenback in May, but jitters in global financial markets may be hitting the pause button on emerging market currencies.
The euro today fell against the US dollar during the Asian session, driven by the risk-off market sentiment that saw most Asian equity markets selloff. The EUR/USD currency pair recovered some of its losses during the European session despite the mixed releases from across the euro area.
The euro today fell against the US dollar for the fourth straight session after the American open where investor sentiment shifted decisively in favour of the dollar. The EUR/USD currency pair was also weighed down by weak data from Germany and the euro area as investors waited for European leaders to decide on the 750 billion euro fund.
The Japanese yen rallied at the start at the trading week, rising against almost all other most-traded currencies with the exception of the Australian dollar. Traders were cautious due to various negative factors such as the anticipation of a global economic slowdown, the conflict between the United States and China, and protests in the USA.
The euro today rallied higher against the US dollar driven by positive investor sentiment even as the greenback registered losses across the board. The EUR/USD currency pair rallied higher ignoring the weak eurozone inflation data released earlier today as investors bid up riskier assets.
The euro opened sharply higher today but has erased losses against the majority of its most-traded peers by now. The traders’ cautious mood was weighing on the currency, but hopes about an end to lockdown in the foreseeable future were supporting the euro. Eurozone macroeconomic data released over Monday’s trading session was mixed.
The euro today rallied higher against the US dollar early in the session as buyers stepped in pushing the pair higher from yesterday’s multi-year lows. The EUR/USD currency pair later lost momentum and headed lower driven by high demand for the US dollar.
The New Zealand dollar fell today against other most-traded currencies, logging the fifth consecutive session of decline against its US counterpart. While the kiwi rose a bit yesterday after the government announced a stimulus package, the rally was short-lived as risk aversion dragged the currency down.
