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USD Declines At Close As Wait to Hear Of Trump Wearies Investors


The dollar was down on Monday morning in Asia, with investors awaiting updates on U.S. President Donald Trump’s health after he and his wife Melania Trump tested positive for COVID-19 through the week that is past.

The US Dollar Index Futures that tracks the greenback against a container of other currencies edged down 0.13% to 93.787 by 10:12 PM ET (2:12 AM GMT).

Trump’s diagnosis adds doubt that is further volatility to his campaign to be re-elected in the Nov. 3 presidential election against Democrat nominee Joe Biden, whom has tested negative for the virus.

The focus all comes down to Trump’s illness … there is a welter of information about the severity of his condition, and that is making it hard for market participants to take action,” Sumitomo Mitsui (NYSE:SMFG) Bank chief strategist Daisuke Uno said there are very little major economic indicators released this week.

Although the medical team dealing with Trump stated he was receiving therapy, the team’s release of contradictory information about Trumps health caused confusion among investors that he could be discharged from Walter Reed National Medical Center, where.

Trump also surprised supporters outside the center that is medical Sunday as he rode by in a motorcade.

“Earlier, some traders bought back dollars and U.S. stock futures immediately after the news came away about Trump briefly leaving the hospital … but I don’t think it means that he has been completely cured.” Sumitomo Mitsui Bank’s Uno warned.

The focus will remain on the election that is presidential with Mike Pence and Kamala Harris to spar in the vice-presidential debate scheduled for Wednesday. However, hopes that the U.S. Congress would pass the stimulus measures that are latest ahead of the election faded after House of Representatives speaker Nancy Pelosi highlighted areas of disagreement with Senate Republicans, although she added on Sunday that progress had been made.

The USD/JPY pair edged up 0.19% to 105.53.

The AUD/USD pair was up 0.34% to 0.7187 and the NZD/USD pair was up 0.20% to 0.6648 in front of Auckland raising restrictions that are COVID-19 midnight on Oct. 7.

The GBP/USD pair inched up 0.12% to 1.2946. The U.K. and the European Union (EU) are entering the final round of Brexit negotiations, with U.K. Prime Minister Boris Johnson and European Commission president Ursula von der Leyen, agreeing to’ that is ‘intensified” during a telephone call on Saturday. Johnson added on Sunday that although he wished to reach a trade deal with the EU ahead of the transition period expiry that is December, a no-deal Brexit is an outcome that the U.K. could accept. The dollar was down on Monday morning in Asia.

The USD/CNY set ended up being flat at 6.7908, with Chinese markets closed for a holiday.

Meanwhile, main banks also be a spot that is focal ahead of the Reserve Bank of Australia’s policy meeting on Tuesday and the U.S. Federal Reserve and European Central Bank (ECB) both due to produce the minutes from their September meetings.


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