Forex Today: Troubled dollar continued to ease

 Here is what you need to know on Tuesday, April 14th:

  • The dollar remained weak, resuming its decline with the return of the US markets. The EUR, however, was unable to benefit from the weakness of its rival, ending the day with modest losses around 1.0920.
  • The GBP/USD pair surged past 1.2500, its highest in over a month, amid lack of interest in the greenback coupled with weekend news indicating that UK PM Boris Johnson left the hospital, still recovering from coronavirus.
  • The Japanese yen surged, amid demand for safe-haven assets. Gold made the most out of it, with spot advancing to the $1,720.00 a troy ounce price zone, its highest since November 2012.
  • Commodity-linked currencies were among the best performers, despite the poor performance of US equities, most likely benefiting from gold’s rally.
  • The Canadian dollar was also up, despite crude oil prices fell. After a long weekend of discussion, the OPEC+ agreed to cut 9.7 million barrels per day through May and June. The cut was the deepest agreed by global oil producers, yet it fell short of the market’s expectations.
  • Crypto Today: Bitcoin forms potential deadly evening star formation

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD battles 1.21 after mixed US data

EUR/USD is trading above 1.21, choppy after US retail sales missed estimates with a drop of 1.3% but on top of upward revisions. Increases in producer prices accelerated last month.


GBP/USD bounces off two-month lows

GBP/USD has bounced off the fresh two-month low of 1.4034 but remains depressed. The delay in Britain's reopening is outweighing upbeat UK job figures. Tension is mounting ahead of the Fed.


XAU/USD looks to $1880 after recapturing $1858

Gold price is attempting a minor recovery above $1850, although the bulls appear to lack conviction, as the US dollar continues to hover near monthly highs.

Gold News

Bitcoin continues to range higher, but altcoins suffer

Bitcoin price has experienced a 32% upswing over the past six days and might retrace to gather more steam. Ethereum price performance is lackluster as it rallied roughly 17% in the same period as BTC.

Read more

Tesla still stuck in first gear

Tesla stock recovered last week as some investor enthusiasm finally returned to the stock with the release of the new Model S Plaid at Tesla's Freemont factory.

Read more