Market News & Analysis
Forex Stories: EU vs Germany
Ming Lam May 12, 2020 11:04 AM
Overnight, the U.S. dollar strengthened against other major currencies. The ICE U.S. Dollar Index regained the key 100 level as it jumped 1.1% to 100.23.EUR/USD dropped 0.3% to 1.0806. European Commission President Ursula von der Leyen threatened legal actions against Germany concerning a German constitutional court's ruling over the European Central Bank's bond-purchase practices.
Source: GAIN Capital, TradingView
GBP/USD fell 0.6% to 1.2331. U.K. Prime Minister Boris Johnson unveiled a "conditional plan" to reopen society. People who could not work from home could return to the workplace. Some hospitality businesses could reopen on July 1 the soonest.
USD/JPY jumped 1.0% to 107.63 extending its rally to a third session.
Commodity-related currencies also weakened against the dollar. USD/CAD rebound 0.6% to 1.4006, and AUD/USD lost 0.7% to 0.6489.
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