Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Currencies

Dollar and yen gain over COVID-19 panic and economic outlook 

Lawretta EgbabyLawretta Egba
3 years ago
in Currencies
Dollar and yen gain over Covid-19 panic and economic outlook 
Share on FacebookShare on TwitterShare on Linkedin

The dollar and the yen rose higher on Thursday. This was as a result of the possibilities of a rise in COVID-19 cases and a second wave of the pandemic prompting increased demand for the currencies.

The British pound also traded in a narrow range ahead of a Bank of England meeting in which policymakers are expected to stretch out quantitative easing especially given the state of the economy as well as volatile trade negotiations with the European Union.

Junichi Ishikawa, a senior foreign-exchange strategist at IG Securities in Tokyo explained that the “Upside for U.S. stocks and other risk assets has dwindled because more people are talking about the second wave of virus infections. This supports the dollar and the yen because they are both safe to havens. The pound has its own problems. The British economy is not in good shape and a hard Brexit remains a risk.”

The dollar traded at $1.1234 per euro on Thursday in Asia following a 0.2% gain in the previous session. The yen also increased to 106.79 against the dollar, while the Sterling went down to $1.2533 for its third day of losses.

READ MORE: British Pound plunges, as PM gets admitted to Intensive care

The cases have also risen in many states within the U.S. as well as the underlying travel restrictions. The situation being witnessed in both the US and China has made people especially concerned about the dangers of reopening the economy or easing restrictions too fast before a vaccine is found.

Britain, on the other hand, is seeking a free trade agreement with the EU, which it left earlier this year in January. The challenge is that owing to the little progress that had been made, there are worries that both will not reach an agreement before the end of 2020.

Related

Tags: DollarEuropean UnionJunichi IshikawTokyoYen

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • International Organization of Securities Commissions revises its 2011 principles 
  • NBS says Nigeria’s public debt has risen to N44.06 trillion
  • Nigeria’s automotive industry records $1 billion investment in 2022 -FG

Follow us on social media:

Recent News

International Organization of Securities Commissions revises its 2011 principles 

January 31, 2023
NBS says Nigeria’s public debt has risen to N44.06 trillion

NBS says Nigeria’s public debt has risen to N44.06 trillion

January 31, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics