Forex

Dollar falls as investors' risk appetite rebounds

2019-04-12 22:31:01 GMT (Economies.com)

The dollar fell against most major currencies on Tuesday as investors shrugged off the US currency as a safe haven and head for risk assets such as stocks.

 

This comes after the release of corporate earnings for the first quarter, as the banking sector received support from JPMorgan Chase and Wells Fargo's gains.

 

The data prompted optimism about a strong US market's corporate earnings season, which boosted investors' demand on stocks.

 

Still, attention is focused on trade negotiations between Washington and Beijing, as a final trade agreement hasn't yet been reached, apart from US Treasury Secretary, Steven Mnuchin, announcing that Washington and Beijing had agreed on a mechanism to implement any trade deal.

 

Meanwhile, former Federal Reserve Chairman, Alan Greenspan, warned against social security, health care, and other government spendings and its impact on the growth of the US economy in the coming period.

 

In today's trading, by 16:37 GMT, the dollar index (against a basket of major currencies) fell by 0.3% to 96.8 points, reaching a high of 97.1 points and a low of 96.7 points.

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