Home Article Market News USD Firmer Amid Fresh Stimulus Hopes

USD Firmer Amid Fresh Stimulus Hopes

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During the Asian session, the market mood is leaning risk-off with Asian indices traded mostly in red, mixed in yields, and strength in safe-havens.

In the FX markets, the safe-haven currencies soared amid the risk-tone with the USD is leading across the board, followed by JPY and CHF. The dollar strength is also being attributed to US stimulus hopes with Reuters stating “the dollar extended a rebound on Monday, as sharp gains in US yields and hopes for more stimulus to boost the US economy prompted some investors to temper bearish bets, pulling the currency further away from recent multi-year lows.”

Meanwhile, both AUD and NZD have pressured with AUDUSD is currently testing the 0.77 levels to the downside, while NZDUSD was trading below the 0.72 levels.

Ahead of the European session, we expect that the market’s focus to remain on factors such as the overall risk tone, US stimulus, the coronavirus outlook, and the global economic outlook.

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