TOKYO, April 9 ― Risk-sensitive currencies climbed today on budding optimism the coronavirus pandemic may be peaking although the euro was dented by the European Union's failure to agree on more support for their weakened economies. The Australian dollar fetched US$0.6233 (RM2.7016), trading near...
Thursday, 09 Apr 2020 09:24 AM MYT
The Australian dollar fetched US$0.6233 , trading near its highest level since mid-March and extending its rally from its 17-year trough of US$0.5510 touched three weeks ago. “New York reported its biggest death toll while infections hit the highest level in four days in Spain and three days in Italy,” said Tohru Sasaki, head of Japan market research at JPMorgan. “All these are negative but forecasts both from governments and experts that the peak could come within days are leading markets not to focus on those details.”
On top of hopes of a peak in the epidemic, commodity-linked currencies, including the Aussie, got an additional boost from hopes that major oil producing countries could agree to cut output at a video conference today.
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