Monday, 13 Apr 2020 09:06 AM MYT
The greenback drifted higher against its Australian and New Zealand counterparts, which are seen as risk sentiment barometers, in a sign investors remain concerned about the global demand for commodities. “This is a negative for oil producers. This also encourages risk-off trading, which should support the yen.”
Oil prices had gone into freefall on worries about the virus and a price war between Saudi Arabia and Russia, which was seen straining the budgets of oil producers and hammering the US shale industry. Other currency traders pointed to a decline in US stock futures as a supportive factor for risk-off trades.
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