What you need to know on Tuesday, April 13:
The dollar lost some ground across the board, although the major pairs remained within familiar levels. Investors were in an absent risk mood earlier in the day, with the greenback pushing higher, but the bias changed in the European session as stocks rebounded to lows.
The UK reopening provided support for the pound, with GBP / USD settling around 1.1740. The country reopened pubs, restaurants and generally non-essential retailers, as planned.
The EUR / USD pair recovered the 1.1900 level, but there was no follow-up in the US trading hours as the US indices remained stagnant around their opening levels.
Commodity-linked currencies ended the day unchanged against the dollar, while the yen rose against its US rival.
Gold prices fell, and the shiny metal settled at $ 1,730.00. Crude oil prices rose intraday, but trimmed gains before the close. The WTI closed at $ 59.55 a barrel.
Eric Rosengren of the US Federal Reserve provided some interesting comments that were ignored by market participants anyway. He said the US economy should see a significant rebound this year, although he said it depends on vaccines remaining effective against new strains of coronavirus. He added that “the current highly accommodative monetary policy stance is appropriate.”
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