TOKYO (Reuters) - The greenback held tight ranges towards its friends on Monday as buyers awaited readability on the well being of U.S. President D
TOKYO (Reuters) – The greenback held tight ranges towards its friends on Monday as buyers awaited readability on the well being of U.S. President Donald Trump after he examined optimistic for the coronavirus, sending markets into safe-haven belongings.
“With not a whole lot of main financial indicators launched this week, the main focus all comes right down to Trump’s sickness,” mentioned Daisuke Uno, chief strategist at Sumitomo Mitsui Financial institution.
“There’s a welter of details about the severity of his situation, and that’s making it tough for market members to make a transfer,” Uno mentioned.
Simply weeks earlier than the Nov. three election, Trump was flown to hospital for remedy for the coronavirus on Friday, including one other layer of uncertainty and market volatility as Trump’s re-election marketing campaign seeks to fend off Democratic challenger Joe Biden.
Docs treating Trump for COVID-19 informed reporters on Sunday they’re monitoring the situation of his lungs after he obtained supplemental oxygen, hours earlier than Trump shocked supporters exterior the hospital by using previous in a motorcade.
The information got here the day after contradictory messages from the White Home prompted widespread confusion concerning the president’s situation.
“Earlier, some merchants purchased again {dollars} and U.S. inventory futures instantly after the information got here out about Trump briefly leaving the hospital,” Sumitomo Mitsui Financial institution’s Uno mentioned. “However I don’t suppose it signifies that he has been fully cured.”
The greenback index =USD was little modified at 93.789, whereas merchants adjusted their positions in safe-harbour currencies.
Towards the safe-haven Japanese yen, the greenback rose 0.2% to 105.515 yen JPY=EBS, after making its sharpest fall in additional than a month to succeed in a one-week low of 104.95 on Friday.
However the buck edged decrease towards the Swiss franc to 0.918 CHF=EBS, close to a one-week low of 0.9163 it marked on Wednesday.
In the meantime, sterling buyers awaited cues from last spherical of Brexit commerce negotiations because the expiry of the transition interval on the finish of December approached.
British Prime Minister Boris Johnson and the pinnacle of the EU’s govt, Ursula von der Leyen, agreed in a cellphone name on Saturday to step up negotiations on a post-Brexit deal.
Johnson mentioned on Sunday whereas he doesn’t need the transition interval to finish with out a new commerce deal, he believes that Britain might reside with such an consequence.
The British pound final stood at $1.2942 GBP=D3 whereas the euro modified arms at $1.1723 EUR=EBS.
Buyers additionally await the upcoming vp presidential debate on Wednesday.
Expectations that U.S. Congress will cross a stimulus package deal to help the pandemic-stricken economic system stay low forward of the presidential election in November.
U.S. Home Speaker Nancy Pelosi on Sunday mentioned progress was being made on coronavirus reduction laws however had earlier flagged key areas of disagreement.
The main target in markets this week shifts to central financial institution occasions and any clues they provide concerning the well being of the worldwide economic system.
The Reserve Financial institution of Australia holds its coverage assembly on Tuesday whereas the Federal Reserve and the European Central Financial institution launch the minutes of their September conferences.
Reporting by Eimi Yamamitsu; Modifying by Sam Holmes