Dollar dips as risk sentiment proves elusive | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Sunday
October 01, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
SUNDAY, OCTOBER 01, 2023
Dollar dips as risk sentiment proves elusive

Global Economy

Reuters
08 July, 2020, 03:15 pm
Last modified: 08 July, 2020, 04:11 pm

Related News

  • Dollar glimmers in broad market gloom
  • Bangladesh Bank didn't get any notice over US restrictions on ACU transactions: BB Spokesperson
  • Taka weakens even further
  • Bank MDs urge governor to increase rates to boost dollar inflows
  • Why is the fixed exchange rate for dollars failing?

Dollar dips as risk sentiment proves elusive

The euro strengthened a modest 0.12% to $1.2870 while a recent fall in selling positions against the greenback provided room for possible further drops

Reuters
08 July, 2020, 03:15 pm
Last modified: 08 July, 2020, 04:11 pm
Dollar dips as risk sentiment proves elusive

The dollar dipped slightly on Wednesday as investors weighed hopes for a swift economic recovery against fears about a resurgence in the pandemic, particularly in the United States.

Demand for the US currency as a safe haven ticked down as oil prices eased on oversupply fears, stocks dithered in Asia and European bourses opened in negative territory.

Risk sentiment was also undermined after Federal Reserve officials expressed concern that rising coronavirus cases could harm economic growth just as stimulus measures start to expire.

The euro strengthened a modest 0.12% to $1.2870 while a recent fall in selling positions against the greenback provided room for possible further drops.

"What might look lethargic at first glance is likely to be based on uncertainty as to what will happen to the economy," Commerzbank foreign exchange analysts told clients in a note.

"There are strong fears that the continued spread of the virus might quickly stifle this recovery again, which in turn would strengthen the US dollar due to its – admittedly questionable – status as a safe haven," they said.

The greenback bought 0.9414 Swiss franc, a 0.13% dip.

Sterling rose 0.14% to change hands at $1.2560 but was stable against the euro at 0.8988 as talks resumed between the Britain and the European Union on terms for their future trade relations.

Overall the pound held on a nearly three-week high as traders awaited an announcement on Wednesday by British finance minister Rishi Sunak of his next moves to prevent a wave of job cuts from damaging an already weakened economy.

The Norwegian krone was stable at 10.6940 against the euro after data showed the economy rebounded in May after two months of steep declines as a gradual reopening of businesses from coronavirus lockdowns helped turn activity around.

Earlier, the onshore yuan was stable at 7.0176, halting a two-day rally, after the Chinese central bank's daily midpoint for the currency was set at a weaker than expected level.

Other Asian currencies straddled narrow ranges as a resurgence of coronavirus cases threatened a return of lockdown restrictions, leaving investors fretting about the mounting economic costs of the pandemic.

The Australian dollar was flat at $0.6944 as sentiment for the Aussie stayed weak after coronavirus lockdown measures were reimposed in Australia's second biggest city of Melbourne on Tuesday.

Top News

Dollar

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Paperfly aborts flight
    Paperfly aborts flight
  • TBS sketch
    Visa curbs apply to those trying to gag media: Peter Haas
  • Obaidul Quader speaking at a peace and development rally arranged by the Dhaka District Awami League in Keraniganj this afternoon (26 September), protesting terrorism, militancy, anarchy, ill-politics and anti-state conspiracy of the BNP and Jamaat. Photo: Collected
    Why does BNP appeal for Khaleda's release to a govt they deem ‘illegal’: Quader

MOST VIEWED

  • BRACU, DU, JU, NSU lead Bangladeshi universities in World Rankings 2024
    BRACU, DU, JU, NSU lead Bangladeshi universities in World Rankings 2024
  • File photo of Rooppur Nuclear Power Plant/UNB
    First batch of uranium reaches Rooppur
  • Photo: BCB
    Shakib says he hasn't spoken with Litton since he broke his bat
  • Photo: Courtesy
    'No responsible captain could do that': Shakib directly blames Tamim for Afghanistan series loss
  • Khaleda Zia moved back to cabin from CCU
    Khaleda Zia moved back to cabin from CCU
  • BCL activist killed, 20 injured in AL-BNP clash in Chattogram
    BCL activist killed, 20 injured in AL-BNP clash in Chattogram

Related News

  • Dollar glimmers in broad market gloom
  • Bangladesh Bank didn't get any notice over US restrictions on ACU transactions: BB Spokesperson
  • Taka weakens even further
  • Bank MDs urge governor to increase rates to boost dollar inflows
  • Why is the fixed exchange rate for dollars failing?

Features

Photo & Coffee Sketch: Touseful Isalm

A coffee conversation with Rumi

14h | Features
Photo: Collected

The top 3 smartwatches of 2023: A glimpse into the future

20h | Brands
In the Nannu Market area in Mirpur 11, there are 35 such shops that provide clothes-fitting services like shortening of pants, tightening of sleeves and shirts, and so on. Photo: Noor-A-Alam

How former RMG workers reinvent themselves as fitting tailors

17h | Panorama
Photo: Collected

Almost 30 years later, Friends merch is still ‘perfection’

19h | Brands

More Videos from TBS

Shakib-Tamim: From best friends to bitter enemies

Shakib-Tamim: From best friends to bitter enemies

9h | TBS SPORTS
Many urban workers are moving to villages

Many urban workers are moving to villages

10h | TBS Stories
How China is reaping the benefits of war without adding fuel to the fire?

How China is reaping the benefits of war without adding fuel to the fire?

11h | TBS World
90% of beggars arrested abroad are of Pakistani origin

90% of beggars arrested abroad are of Pakistani origin

13h | TBS World
EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]