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The US dollar stabilizes in light of the decline of the other currencies – 15-06-2020

News Date: 15/6/2020 05:24:12

The dollar is still relatively stable at the same levels that concluded last week, to open the trading of the new week, in light of the stalemate of other major currencies, all this due to fears of the expectation of the second wave of the Corona pandemic that shook the world, especially in China ! Which recorded during the weekend a number of new cases of coronavirus, and the number of infections in the United States of America, which will affect the weak economy that seeks to recover !

It is expected that the employment rate in America will rise during the next few period, starting from next July, and the unemployment rate is expected to continue to rise, especially in the continuation of the current economic conditions, according to what  FOMC rate decision's member Robert Kaplan indicated.

As a result, both the New Zealand and Australian dollars fell, the sterling weakened, and the Japanese yen and the euro fell, so the dollar versus the Japanese yen traded 0.1% lower at 107.25 levels, while the dollar pair fell against the euro by 0.2% Until 1,123 dollars, and the New Zealand dollar fell against the US dollar by 1.48% to settle at 0.64 dollars, while the Australian dollar fell by 2.36% to settle at 0.68 dollars levels.

On the other hand, the British Pound weakened, with the GBP / USD pair dropping 0.6% to $ 1,246.

Japanese stocks fell, as the Nikkei fell 3.47% to 21,530.95 points, and with the number of Corona virus infections in both America and China, fears of a second fierce wave hitting the two countries increased, which sparked concern about the economy that will cost a period Long to achieve recovery.

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