The demand for dollar is surging amid a global sell-off of stocks related to the coronavirus crisis. EUR/USD is trading near 1.10, close to the monthly lows. GBP/USD has extended its slump, flirting with 1.21, the lowest since September. AUD/USD is around 0.60, a level that was last seen in 2003. The greenback is gaining ground across the board, beating assets that are usually safe-haven ones such as the Japanese yen and Gold. XAU/USD is trading below $1,470. Reuters reports that excessive US swap prices show the US dollar funding situation worsening. Dealers say overnight (T/N) EUR/USD swap 10% vs 0.15% on a regular day. The Benchmark 3-month EUR basis swap is -124 basis points – new high since 2012, and that was -154 in 2012 and -305 basis points during 2008 financial crisis. Large corporations said to be drawing down on available credit lines. Amid fears of further USD shortages, exacerbating the issue. — more to come FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Turkey: CBRT lowers policy rate by 100 basis points to 9.75% FX Street 2 years The demand for dollar is surging amid a global sell-off of stocks related to the coronavirus crisis. EUR/USD is trading near 1.10, close to the monthly lows. GBP/USD has extended its slump, flirting with 1.21, the lowest since September. AUD/USD is around 0.60, a level that was last seen in 2003. The greenback is gaining ground across the board, beating assets that are usually safe-haven ones such as the Japanese yen and Gold. XAU/USD is trading below $1,470. Reuters reports that excessive US swap prices show the US dollar funding situation worsening. Dealers say overnight (T/N) EUR/USD swap 10% vs 0.15%… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
