with USD/JPY falling below 109, the safe-haven yen has been gaining ground. The United States’ ten-year yields have reached new record lows below 1.24%. On the recent market slump, Gold could not capitalize and is now trading below $1.630.
The EUR/USD is trading around 1.10, as falling United States yields weigh on the dollar. Olaf Scholz is Germany’s finance minister. He had efforts to introduce a fiscal stimulus, which buoyed the euro. The European Central Bank’s President, Christine Lagarde, says that she does not see the need for imminent monetary stimulus in the wake of the crisis.
As Prime Minister Boris Johnson has laid down a tough stance ahead of post-Brexit talks that kick off on Monday, the GBP/USD has been struggling around 1.29. The United Kingdom threatens to walk away by June if not enough progress is made. The outgoing Governor of the Bank of England, Mark Carney, said that economic growth would most probably downgrade in the United Kingdom.
Yen and Others
As already said, the yen has been gaining ground.
Major United States indices fell over 4% and 10% from highs. Thus, the stock market sell-off has worsened. As global recessions and bear market recession risks are rising, other markets follow that trend.
The disease has spread to sub-Saharan, with the first case in Nigeria. Japan is closing schools, and the United States is ramping up testing, South Korean affairs top 2,000. Nevertheless, the United States President Donald Trump has praised America’s dealing with the virus. The number of common infections has topped 83,000. The warning is updating their projections for 2020, and more and more companies have published forecasters. The WHO (World Health Organization) has said that the outbreak is on a “decisive stage.” The World Health Organization might soon declare Covid-19 as a pandemic.
It is the leading news of today in the market. Let’s hope that the situation will get better.
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