Safe-haven currencies were on the backfoot on Tuesday as hopes of an economic turnaround boosted riskier assets like the Aussie and yuan, although worries about a blowout in British public spending kept the pound under pressure.
FILE PHOTO: A Japan Yen note in front of U.S. Dollar and British Pound Sterling notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration
Wall Street shares were also buoyed by a 14% surge in Boeing as the embattled aircraft maker began a series of long-delayed flight tests of its redesigned 737 MAX., having touched a three-week high of 107.885 in the previous session, though it was capped by its 100-day moving average around that level.The euro stood at $1.1244End-of-quarter corporate repatriation flows appear to be playing a role in latest moves, analysts also said.
There are also doubts about whether Britain will seal a trade pact with the European Union as little progress has been made in agreeing on Britain’s future relationship with the bloc. The epidemic showed few signs of abating as Arizona ordered the closure of bars and gyms, joining other sun belt states like Florida and Texas in reversing reopenings.
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