British Pound Futures Market News and Commentary
The dollar index (DXY00) on Friday fell -0.047 (-0.05%). Sep euro-fx futures (E6U0) closed up +0.0003 (+0.03%), and EUR/USD (^EURUSD) rose +0.0015 (+0.13%). Sep yen futures (J6U0) closed up +0.24 (+0.25%), and USD/JPY (^USDJPY) fell -0.26 (-0.24%).
The dollar index on Friday moved lower as a recovery in stocks on positive coronavirus treatment news undercut liquidity-demand for dollars. The dollar was also pressured by the weaker-than-expected U.S. June PPI report.
U.S. stock futures Friday morning recovered from overnight losses on positive coronavirus news. Stocks gained and the dollar fell after Gilead Sciences announced Friday that its Remdesivir drug to treat the coronavirus showed a 62% cut in mortality risk for patients taking the drug. U.S. stock indexes had earlier posted moderate losses in overnight trade on concern that the record coronavirus infections in the U.S. will lead to more lockdowns that delay the reopening of the economy. The U.S. reported a recor... Read more