Kiwi hit by new virus case

TOKYO (Reuters) – FX Signals – The New Zealand dollar tumbled on Tuesday after the country discovered its first community case of COVID-19 in six months while the Australian dollar slipped to a one-month low as minutes from the central bank meeting were perceived as dovish.

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Safe-haven currencies such as the yen held firm against riskier currencies also on growing anxiety the spreading Delta variant of the coronavirus could disrupt, if not derail, the global economic recovery from the pandemic.

“Soft U.S. data could well prove transitory but at the moment more people are turning cautious and thus likely to reduce risk in their positions, rather than taking on more risks,” said Kazushige Kaida, head of FX sales at State Street (NYSE:STT) Bank’s Tokyo branch.

As investors tried to reduce risk, so-called safe-haven currencies, such as the yen and the Swiss franc, gained a boost.

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The euro eased slightly to $1.1785, losing steam after hitting a one-week high of $1.18045 on Friday.

In cryptocurrencies, bitcoin traded at $46,449, not far from Saturday’s three-month high of $48,190. Ether stood at $3,195.

Kiwi hit by new virus case

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