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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

LIVE: US GDP surges 33.1% covid-clouded ECB's Lagarde awaited

US GDP leaped by 33.1% annualized in Q2, better than expected. The ECB has left its policy unchanged and markets await the presser from President Lagarde. She may hint at more action as coronavirus paralyzes the European economies. 


GBP/USD tumbles below 1.30 as market mood worsens

GBP/USD has dropped below 1.30, reversing its Brexit-related gains. Growing concerns about coronavirus in the UK and the US elections are weighing on the pound.


Gold depressed near 1-month lows, below $1870 level post-US GDP

Resurgent USD demand prompted some fresh selling around gold on Thursday. The USD stood tall following the release of upbeat US third-quarter GDP report. The US economy expanded by 33.1% annualized pace as against 31% expected. 

Gold News

Virus is out of control so are the markets

At the beginning of the week, we warned of a possible volatility spike and turbulence in financial markets with only a couple of days remaining to the US presidential election. However, Wednesday turned out to be an ugly one for investors and much worse than expected. 

Read more

WTI: Sell-off resumes, September low of $36.13 at risk

WTI extends the rout on coronavirus lockdowns in the EU. Rising US crude supplies intensify supply glut worries. US Q3 GDP and virus data to dominate the market sentiment.

Oil News