Dollar in Demand, Euro, Pound Under Pressure
Tuesday, 28 January 2020 15:34 WIB | CURRENCIES |Dolar AS

The U.S. dollar remains strong Tuesday, as heightened concerns about the spread of the deadly coronavirus in China prompt demand for currencies as safer.

At 08:00 ET (0800 GMT), the USD/JPY traded 0.2% higher at 109.08, having fallen as low at 108.83 overnight. The US Dollar Index Futures, which tracks the greenback against a basket of other currencies, pushed up 0.1% to 97.81, approaching the levels last seen in early December. That follows broad gains against commodity currencies in recent days as the market has priced in the risk of a drop in Chinese demand for basic materials.

Additionally, EUR/USD traded at 1.1019, after briefly visiting the 1.10 neighbourhood “ or fresh yearly lows “ at the beginning of the week.

The positive tone around the dollar, in combination with global growth concerns amidst the spread of the Chinese virus, have kept EUR/USD under heavy pressure of late.

Source: Investing.com

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