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.


    Market Response

    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.




    Risk Disclaimer:

    Information on this page are solely for educational purposes only and is not in any way a recommendation to buy or sell certain assets. You should do your own thorough research before investing in any type of asset. Learn to Trade does not fully guarantee that this information is free from errors or misstatements. It also does not guarantee that the information is completely timely. Investing in the Foreign Exchange Market involves a great deal of risk which may result in the loss of a portion or your full investment. All risks, losses and costs associated with investing, including total loss of principal and emotional distress, are your responsibility.