Safe-Haven Currencies Weaken on Hopes of Stimulus Proposal – 7 October, 2020

A revival of hopes for a second U.S. stimulus check pushed the safe haven dollar and yen lower after a series of tweets from President Donald Trump, suggesting he would be open to continue negotiations. The dollar weakened against major competitors, and the  Japanese yen fell to a three-week low of 106.11 per dollar in overnight trading. The euro was 0.2% higher at $1.1767, while the Australian dollar lifted from a one week low to $0.7137, up 0.5%. The New Zealand dollar was 0.4% lower to $0.6558 on comments from a central bank official over the future of negative rates.