Forex Today: USDJPY Hits New 20-Year High Above ¥129
The Forex market is seeing a counter-trend move today in the US Dollar, which has suddenly begun to sell off, while almost all other major currencies are advancing against it.Many commodities, especially agricultural commodities, have been advancing to reach new long-term highs, but they almost all saw drops from highs yesterday. The market was affected by a new report from the International Monetary Fund which lowers forecasts for near-term global growth, especially in the UK.
It is estimated that 65% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 6.4% of the global population is known to have contracted the virus at some stage. Total confirmed new coronavirus cases worldwide stand at over 505.4 million with an average case fatality rate of 1.23%.
The rate of new coronavirus infections appears to now be increasing only in Canada, Samoa, and Taiwan. A hard lockdown continues in Shanghai, China, as seven coronavirus deaths were confirmed there yesterday. The lockdown is causing some supply chain disruption globally, although certain vital factories are beginning to reopen.
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