Forex – Dollar Unmoved as Event Risk Limits Activity – FxPremiere.com – FX Signals on The U.S. dollar was largely unchanged Thursday, with activity in the foreign exchange market subdued as investors pause.
Historically, the price of oil is inversely related to the price of the dollar, as when the greenback is strong you need less to buy a barrel of oil, However, the price of oil has also become a function of the demand destruction caused by the Covid-19 outbreak – the more the global economy has shut down, the more oil has fallen and the more the dollar has appreciated as a safe haven.
If the major oil producers can get together to agree to cut supply, potentially raising the price of crude, the dollar could be adversely impacted.
Finally, eurozone finance ministers are getting together again to try and agree the best way a regional strategy for financing crisis mitigation measures – Forex – Dollar Unmoved as Event Risk Limits Activity.
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