Hot topics | Coronavirus pandemic

Yen rallies, rand and Australian stumble as new variant spurs flew to safety as new technology continues to expand to safety

Yen rallies, rand and Australian stumble as new variant spurs flew to safety as new technology continues to expand to safety

OTTAWA, Nov. 26 (Reuters) - The safe-haven yen rallied while the South African rand and risk-sensitive Australian dollar ran down on Friday, as investors took to the battlefield with the discovery of a new coronavirus variant that could resist current vaccines.

The variant has a complex disease that is a condition of immune response for the human organism. That genetic disease has been identified in Botswana and Hong Kong.

The rand rand dropped from 1,22% to a more than one-year trough at 16.24 dollars, while the Aussie and New Zealand dollars fell three-month lows at $0.7135 and $0.6818 respectively.

One who was in Tokyo, says, COVID worries are definitely playing a major role in growing demand for safe havens such as the yen. As much as South Africa is the place of this new variant, this is obvious reason to avoid the rand, says Shinichiro Kadota, senior FX strategist.

Sterling slipped to a new 11 month low of $1.3299.

Nevertheless the euro rose 0.15% to $1.1222, regaining after hitting its lowest in nearly 17 months earlier in the week at $1.186. Germany is considering redefining the central region of the pandemic for COVID-19 and reimposing a COVID-19 lockdown of a new continent advertising the gloomy earthquake.

A surge in gains for the yen, francs and euro enabled a move between the Dollar Index - the dollar, which measures the greenback against these and three other currencies - and a 94.918 rise of nearly 17 months. It had top price on Monday at 96.968, highest in nearly 17 months.

But the index declined 0.77% on the week, but so was the other one.

Traders have ramped up bets that an increasingly hawkish Federal Reserve is going to lift rates by the middle of next year, while central banks in Europe, Japan and elsewhere stick to dovish stances.

As soon as this will happen, the yen will have to cynxi and cynxi.

114 should be a ground for the currency pair in the near term, "everywhere the world really changes for the worse," he said.

Last week, Governor Haruhiko Kuroda reiterated his commitment to massive monetary stimulus, adding that the central bank stands ready for a new rise if necessary.

After an intense inflation pressure, most policymakers pushed toward continuance and cautious attitude to policy changes, but the inclination towards a gradual response.

The markets are pricing for a price hike by the Fed by July, with good odds it could come in June.

The month's annual pay balances figures are due on the next Friday - a significant signpost for the US policy direction.

A research note note says we are not a moderately optimistic future of the US dollar.

There's plenty of room for withdrawals, she said. "The currency pair is now long with short USD and a highly volatile currency market", with $1.15 a potential target, and the payrolls report potential trigger, she said.


Currency offer price at 0451 GMT: Prices at the currency exchange price at 451 GMT: 0551 p.m.

Every time it's possible, it may not be able to find out that it was all that bad!

Tokyo spots.

Europe spots attracts people around the globe.

Volatilities are high.

Trading market information from BOJ and Tokyo.

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