The dollar is depreciating as China’s growth prospects lift the Aussie

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SINGAPORE – The dollar has started the week

Hind legs, after the first weekly loss of about two

Month, as bets on more dollar gains from investors cut

Relaxing lockdowns that turned to rising US rates and optimism

China can help global growth.

U.S. stock market futures bounced sharply early

Asian trade and risk-sensitive Australians and New Zealand

Along the Zealand dollar for the ride.

Aussie is up 0.4% at the latest 70 0.7080 and has

Raised 3.8% in a week and a half. Kiwi rose 0.6%

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0.6450, three week high.

“It’s a reasonably positive start to the week,” he said

The head of foreign exchange strategy at the National Bank of Australia, Ray

Atril.

“We have seen a sharp reversal of the weakness in the US equity market

In the last hour of Friday, so maybe there is some momentum

There, ”he added. “The US dollar is showing now

The reverse is happening. “

The euro and yen rose, the yen rose 0.1%

127.83 per dollar and the euro rose 0.2% to 0 1.0586

The dollar followed last week’s 1.5% gain.

US dollar index down 0.1% to 102.790, about 2%

Below the two-decade high of 105.010 at the beginning of May.

“The dollar is probably peaking at the highest point in Europe’s view

Elasticity of potential shock of power shock and lockdown

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In China, “said Joe, a strategist at the Commonwealth Bank of Australia

Capurso.

“Given the type of policy support, we expect investment

A faster rebound than consumer spending, ”he said. “Investment is

Very positive for mining product-intensive (and so on)

Commodity currencies such as the Australian dollar and Canadian

Dollars, in addition to the yuan. “

China hopes

Shanghai is coming out of the lockdown and an unexpectedly big one

There have been hints of a rate cut in China last week

Authorities are going to provide assistance for a recovery.

The city of 25 million is expected to rise across its city

Lockdown and return to normal life from 1st June.

The end of 2020 was the best week for the yuan

At the start of the week, offshore trade was firm at 6.6861 per dollar

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Monday.

The Canadian dollar rose for the third week in a row

Last week and early was a touch higher at C $ 1.2814 per dollar

Monday.

Sterling’s back jumped nearly 2% last week

Stronger than expected retail data and extensive market revision

Whether the global central bank is really far behind

The Federal Reserve raised 0.3% to its latest 1.2527.

As US president, he is focusing on geopolitics in Asia this week

Joe Biden visits the region, promoting greater U.S. economics

Busyness and trying to back down against Chinese influence.

He met with the Emperor of Japan on Monday before holding talks with the Prime Minister

Minister Fumio Kishida.

Although the new government was elected in Australia on Saturday

The market response was muted as the vote predicted victory

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Center-Left Labor Party and it is not expected to move

The direction or speed of interest rate growth.

The Reserve Bank of New Zealand is expected to withdraw

Wednesday benchmark cash rate by 50 basis points. Us

The minutes of the Federal Reserve meeting are also available on Wednesday.

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Currency bid price at 0039 GMT

Description RIC Last US Close Pct Change YTD Pct High Bid Low Bid

Previous changes

Session

EUR / USD $ 1.0588 $ 1.0569 + 0.18% -6.87% +1.0590 +1.0559

Dollar / Yen 127.8700 127.9100 -0.07% + 11.13% +128.0500 +127.8200

Euro / Yen

Dollar / Swiss 0.9733 0.9743 -0.11% + 6.69% +0.9751 +0.9732

Sterling / Dollar 1.2525 1.2496 + 0.26% -7.37% +1.2529 +1.2482

Dollar / Canadian 1.2802 1.2846 -0.32% + 1.28% +1.2842 +1.2805

Aussie / Dollar 0.7085 0.7052 + 0.48% -2.52% +0.7090 +0.7046

NZ 0.6446 0.6410 + 0.65% -5.75% +0.6451 +0.6400

Dollar / dollar

All spots

Tokyo spot

Europe spots

Instability

Tokyo Forex market data from BOJ

(Reporting by Tom Westbrook. Editing by Sam Holmes)