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Stock impact report

Dollar wobbles as investors grow anxious about pandemic toll on U.S. economy [Reuters]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Dollar wobbles as investors grow anxious about pandemic toll on U.S. economy TOKYO (Reuters) - The U.S. dollar gave up brief early gains on Monday as mounting concerns about a slowing U.S. economic recovery from the coronavirus pandemic hobbled the currency after a brief rebound late last week. The euro traded almost unchanged at $1.1768 EUR= , coming off a low of $1.1741 touched earlier in the session, though it is still more than a cent below Friday's two-year high of $1.1908. The common currency hit a speed bump on some technical signs of being over-bought in the near-term, and with speculators’ long positions hitting a record level, said Minori Uchida, chief currency analyst at MUFG Bank. “But the dollar’s decline is likely to continue. Real U.S. interest rates are declining even as the country is running a big current account deficit, a situation we hadn’t have for a long time,” he said. U.S. bond yields have fallen to their lowest level since the pandemic-induced market turmoil Show less Read more
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