The Brilliant Come Back of FOREX-Safe-haven Currencies During the Pandemic

FOREX-safe haven currencies made a brilliant come back on Tuesday after a long time just because of the positive predictions about the stock values, which assuredly got a boost. These ventures are only possible because of the economic turnaround, which can be felt in this scenario. When British Prime Minister Boris Johnson announced enhancing the public spending, Sterling came under pressure.

On the other hand, the activities related to the housing market, which experienced a plunge during the pandemic, soon recovered in May. This brought into focus the optimistic data of home sales scenario. Contracts signed for the pending home sales increased by 44.3%, which was more than what was predicted by economists. Apart from that, the shares belonged to Wall Street also experienced a sudden increase of 14% in the Boeing part. This is due to the commencement of the series of flight tests that were long delayed of the 737 MAX, which was redesigned.

The dollar showed a steady climb to 107.59 yen, besides touching a three-week record of 107.885. Nevertheless, it was topped by its 100-day affecting average near that mark. The safe-haven Swiss franc relieved to 0.9511 per dollar as well as 1.0697 per euro. This is how the whole process went through in this pandemic situation.

source : forexnews صخقمي

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