Demand for USD Strengthens as Dr. Fauci Probably Warns Impending Effects of the US Reopening Too Soon
According to the New York Times, Dr. Anthony Fauci, a leading contributor to the task force, will likely warn the Senate on the “needless suffering and death” Americans are bound to face if the US reopens too soon. As such, demand for safe-haven, particularly USD, is strengthening amid the pandemic crisis.
On Monday, Fauci said that there is no possibility that the virus can be annihilated with the impending global travel of hundreds of thousands of individuals going back and forth the country every day.
The greenback demand is on the ascent amid reestablished fears throughout the second wave of infection developing in China and South Korea.
Furthermore, trade tensions in Australia-China reduce the risk appetite of the investors.
The US dollar subsequently showed better bid above 100.20, in contrast to the Asian stocks and S&P 500 flashing red.
What to Expect
As the Reserve Bank of New Zealand ( RBNZ) is set to meet on Wednesday, rate cuts in response to the pandemic will likely influence its monetary stimulus, including its relationship with other countries.
NZD/USD bulls will probably show, and prices may remain to be on the rise.
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