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Investors eye COVID-19 spread, Golden Cross to gauge U.S. dollar trajectory

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Investors eye COVID-19 spread, Golden Cross to gauge U.S. dollar trajectory Empty Investors eye COVID-19 spread, Golden Cross to gauge U.S. dollar trajectory

Post by RamblerNash Sat Jul 24, 2021 8:04 pm

Investors eye COVID-19 spread, Golden Cross to gauge U.S. dollar trajectory 1627036209463
2021-07-23 03:30

shafaq news / A rally in the U.S. dollar has investors looking at a broad range of factors -- from global COVID-19 infections to yield gaps -- to determine whether the greenback will continue appreciating.

The dollar is up 4% from its lows of 2021 and is among the world's best performing currencies this year, boosted by last month's hawkish shift from the Federal Reserve, burgeoning inflation and safe-haven demand driven by COVID-19 worries.

Because of the dollar’s central role in the global financial system, its moves ripple out towards a broad range of asset classes and are closely watched by investors.

For the United States, a period of sustained dollar strength would be a double-edged sword, helping tamp down inflation by increasing the currency's buying power while denting the balance sheets of exporters by making their products less competitive abroad.

On the other hand, dollar strength would continue pushing down currencies such as the euro and British pound, potentially giving a boost to the recoveries in those countries.

https://shafaq.com/en/Economy/Investors-eye-COVID-19-spread-Golden-Cross-to-gauge-U-S-dollar-trajectory
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