Dollar Up, Remains Near Almost-Ten Month Highs Due to Risk Aversion By Investing.com

Dollar Up, Remains Near Almost-Ten Month Highs Due to Risk Aversion

ForexAug 19, 2021 10:40PM ET

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Dollar Up, Remains Near Almost-Ten Month Highs Due to Risk Aversion

By Gina Lee

Investing.com – The dollar was up on Friday morning in Asia, remaining near a nine-and-a-half month high, as persistent COVID-19 concerns continued to give the safe-haven asset a boost.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.01% to 93.602 by 10:33 PM ET (10:33 AM GMT).

The USD/JPY pair inched up 0.01% to 109.73.

The AUD/USD pair edged down 0.17% to 0.7134 and the NZD/USD pair was down 0.29% to 0.6882.

The USD/CNY pair edged up 0.14% to 6.5032. The People’s Bank of China released its latest loan prime rate (LPR) earlier in the day, with the one-year LPR remaining unchanged at 3.85% and the five-year LPR at 4.65%.

The GBP/USD pair inched down 0.10% to 1.3624.

The minutes from the U.S. Federal Reserve’s latest meeting, which hinted that asset tapering could start as soon as 2021, also continued to give the U.S. currency a boost. Investors will now look ahead to the Fed’s Jackson Hole symposium, taking place from Aug. 26 to 28, for more clues to an asset tapering and interest rate hike timetable.

However, COVID-19 and its Delta strain continue their relentless upward tick, with the U.S. reporting the most deaths since February 2021.

Riskier currencies also suffered losses, with the Australian and New Zealand dollars remaining near nine-month lows.

"Risk aversion in the air has buoyed the greenback, with pro-growth currencies bearing the brunt of it," National Australia Bank (OTC:NABZY) strategist Rodrigo Catril said in a note.

The Australian dollar has fallen 3% so far during the week and was on track for its worst performance since September 2020 as much of the country remains under lockdown to curb the latest COVID-19 outbreak.

Across the Tasman Sea, the New Zealand dollar has sunk 2.9% for the week, also its lowest level since September 2020, as the Reserve Bank of New Zealand delayed hiking its interest rate as it handed down its policy decision earlier in the week. The country remains under lockdown as it deals with its own COVID-19 outbreak.

Dollar steadies after bounce off of one-month low By Reuters - Oct 25, 2021 3

By David Henry NEW YORK (Reuters) - The dollar steadied on Monday afternoon after bouncing off a one-month low as traders weighed the prospects of higher interest rates for...

Turkish lira bounces back from record low after Erdogan soothes diplomatic fears By Reuters - Oct 25, 2021 1

By Daren Butler ISTANBUL (Reuters) -Turkey's lira performed a volte face and bonds bounced back from multi-month lows after President Tayyip Erdogan welcomed statements on Monday...

Turkish lira bounces back from record low after Erdogan soothes diplomatic fears By Reuters - Oct 25, 2021 8

By Daren Butler ISTANBUL (Reuters) -Turkey's lira performed a volte face and bonds bounced back from multi-month lows after President Tayyip Erdogan welcomed statements on Monday...

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Comments (2)

Zerr Kar Aug 20, 2021 8:14AM ET

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EURUSD gain to 1.12

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Yugesh Kumar Aug 20, 2021 1:11AM ET

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How much can the dollar go up

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US 30	35,757.5	+80.5	+0.23%
US 500	4,574.2	+29.3	+0.64%
Dow Jones	35,741.15	+64.13	+0.18%
S&P 500	4,566.48	+21.58	+0.47%
Nasdaq	15,226.7	+136.5	+0.90%
S&P 500 VIX	15.24	-0.19	-1.23%
Dollar Index	93.817	+0.192	+0.21%

Crude Oil WTI	83.69	-0.07	-0.08%
Brent Oil	85.15	+0.02	+0.02%
Natural Gas	6.130	+0.669	+12.25%
Gold	1,809.00	+12.70	+0.71%
Silver	24.652	+0.203	+0.83%
Copper	4.5300	+0.0320	+0.71%
US Soybeans	1,245.50	+14.50	+1.18%

SPDR S&P 500	455.55	+2.43	+0.54%
iShares Russell 2000	229.57	+2.16	+0.95%
Invesco QQQ Trust	377.93	+3.83	+1.02%
Direxion Daily Junior Gold Miners Bull 2X Shares	74.03	+3.24	+4.58%
iShares Silver	22.74	+0.20	+0.89%
ProShares Ultra VIX Short-Term Futures	16.06	-0.72	-4.29%
ProShares UltraPro QQQ	145.52	+4.24	+3.00%

Apple	148.64	-0.05	-0.03%
Alphabet A	2,748.9	-2.4	-0.09%
Tesla	1,024.86	+115.18	+12.66%
Amazon.com	3,320.37	-15.18	-0.46%
Netflix	671.66	+6.88	+1.03%
Facebook	328.69	+4.08	+1.26%
Bank of America	47.51	-0.06	-0.13%

Dollar Up, Remains Near Almost-Ten Month Highs Due to Risk Aversion

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