Monday, 27 Jul 2020 07:48 PM MYT
US Secretary of State Mike Pompeo said Washington and its allies must use “more creative and assertive ways” to make the Chinese Communist Party change its ways. Some of the earlier steps to mitigate the financial impact, such as enhanced jobless benefits, are due to expire this month and Congress has yet to agree on fresh support.
But Rabobank’s global strategist, Michael Every, said that the index is skewed by major constituent pairs such as dollar-yen and euro-dollar. With the dollar’s role as safe haven in question, the Japanese yen and Swiss franc strengthened, suggesting that investors are seeking safety elsewhere. “Markets are potentially looking for risk aversion currencies, and this seems to be a discretionary switch away from dollar into the yen and the Swiss franc,” he said.
Source: Financial Digest (financialdigest.net)
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