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The euro rose against the dollar on 2 March 2020 despite accelerating coronavirus spread in Europe, marking a seventh consecutive weekly-type rally in EUR/USD. The move was attributed to the unwinding of carry trades, as investors sold lower-yielding euro positions.
A stronger euro and carry unwind reflect risk-off flows that weaken emerging-market currencies, which can raise the cost of imported feed ingredients for buyers in those markets.
forex.comMatt Weller CFA, CMT2 mrt 2020Na 388 eerdere opwaarts macro-gebeurtenissen bewoog Euro (USD per EUR) zich mediaan +0,3% over 5 sessies (62% hoger; middelste helft -0,4% tot +1,1%), en +0,1% over 20.
Na 1.637 eerdere neerwaarts macro-gebeurtenissen bewoog Amerikaanse dollar (breed) zich mediaan -0,2% over 5 sessies (39% hoger; middelste helft -0,6% tot +0,3%), en -0,2% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
Attributes the 2 March euro rally to carry-trade unwinding, in which euro funding positions are bought back, a flow-driven currency mechanism for the jump.
Unwinding of euro-funded carry trades led to euro buying and a continued EUR/USD rally on 2 March despite virus spread in Europe.
Euro rally on 2 March driven by carry trade unwinding contributed to the dollar's decline.
