Dollar creeps higher as virus worries return

first_imgThe US currency rose most against the risk-sensitive Australian and New Zealand dollars, gaining about 0.5 percent on each to sit at $0.6142 per Aussie and $0.5951 per kiwi .”Risk aversion and the US dollar are going hand in hand,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney.”Improvement has been based on less-bad statistics coming out of various parts of the world…but our view is that markets are going to remain choppy – we can’t expect an uninterrupted flow of singularly good or singularly bad news.”The dollar edged 0.1 percent lower to 108.55 yen. It rose a fraction against the British pound to $1.2321 and euro to $1.0878. The Aussie was also knocked by ratings agency S&P downgrading the outlook on the sovereign AAA rating from stable to negative.New York overnight reported 731 fatalities from COVID-19, the respiratory disease caused by the virus, the sharpest single-day spike, but state Governor Andrew Cuomo drew hope from an apparent levelling off in the number of hospitalisations.Across the Atlantic, British Prime Minister Boris Johnson, who has the illness, is in intensive care for a second night although his condition is stable.Elsewhere in Europe, Spain’s daily toll of coronavirus deaths rose for the first time in five days, but officials there and across the continent pushed forward with plans to begin lifting some lockdown measures soon.In Asia, the dollar rose 0.5 percent against the Korean won and lifted from a three-week low against the Chinese yuan – rising 0.1 percent to 7.0730 yuan in offshore trade.Investors are keenly watching as lockdowns lift in Wuhan, China, the epicentre of the pandemic, for clues as to how the rest of the world may fare when the worst has passed.Authorities are walking a fine line between allowing greater freedom of movement and preventing a second wave of infection, with particular concern people who show no symptoms but can still pass on the virus.Later on Wednesday, the US Federal Reserve releases minutes from its emergency meeting last month, which may include more commentary on the depth of the economic contraction that looms.”While the virus’ curve is flattening, the economic effects of the corona crisis will linger for years,” said Commonwealth Bank of Australia currency analyst Joe Capurso.”Economies will take time to re-open, some businesses will not re-open, and unemployment will take years to (recover). We think that means the dollar and yen will re-strengthen.”Topics : The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.The greenback rose on most majors besides the safe-haven Japanese yen, a day after suffering its worst drop against a basket of currencies in nearly two weeks.Safe-haven gains were slight but gathered pace in morning trade as the two-day rally in Asia’s equity markets lost steam and bonds and gold firmed.last_img read more

Redknapp: I’m not under pressure

first_img “It is up to Tony what he does. If he is not happy come and talk to me – I’m a big boy. I’m going for dinner with him. I’m not going to be there buying him dinner to keep my job – I will let him buy dinner. “The impasse over my contract is that I wasn’t bothered about signing a new contract, not in the slightest. “What is a contract? A contract is you work for a club. If they don’t want you, you talk to the chairman, sort out what you’re doing and you move on. “If we stay up and at the end of the year Tony wants to talk about another year with me I’d be delighted, that is what I want to do in my life.” Fernandes has backed Redknapp since he was chosen as the man to replace Mark Hughes in November 2012. Liverpool striker Daniel Sturridge faces another two to four weeks on the sidelines, according to a report. The 25-year-old England forward has been out of action for six weeks due to a thigh strain he picked up on international duty. He had been thought to be close to a comeback but, according to the Liverpool Echo, pulled his calf during training on Thursday and could now be absent for up to another month. “Daniel has pulled his calf,” Liverpool boss Brendan Rodgers told the newspaper. “He’s looking at being out for another two to four weeks. “It’s a big blow as we were looking forward to welcoming Daniel back. He has worked tirelessly. “But we have other players training hard and working hard and we will turn to them. It’s why we bulked up the squad in the summer.” Sturridge is now set to miss Sunday’s game and the midweek Champions League clash with Real Madrid at Anfield at the very least. Rodgers, meanwhile, has leapt to the defence of Raheem Sterling, but insists there is no club versus country row between him and England manager Roy Hodgson. The 19-year-old forward has found himself pilloried in the last week after Hodgson revealed the youngster had told him he was tired ahead of the Euro 2016 qualifier in Estonia. Sterling was left out of the team for that match, coming off the bench to win the free-kick from which Wayne Rooney scored the only goal, which led to accusations he had said he did not want to play. Rodgers totally rejected those accusations. “He (Sterling) has been absolutely incredible for me and what has been nice to see is his maturity as a young man; he’s 19, a full international and he will hopefully be a key player for England and Liverpool for many years. “This is a kid we bring up to be responsible and honest – lots of players will tell you they haven’t played when they haven’t felt right but this is a kid who didn’t say that. “What he was saying was he felt tired. I’ve had it a number of times here with Raheem where he has been tired in his legs but he has gone on to play in games and be exceptional.” QPR boss Harry Redknapp does not want any assurances over his position and insists he is not under pressure at Loftus Road. Press Association But, with a home game against Liverpool to come on Sunday, Redknapp does not believe his job is under immediate threat if recent results do not improve. When asked if he was feeling any pressure, Redknapp said: “None whatsoever. ”Until you’ve been under pressure you don’t know what pressure is and I’m not under pressure, none whatsoever. I’m looking forward to the game on Sunday. ”We have played seven games, we are seven games into a Premier League season. We have played three home games, we got beaten by Hull 1-0 and missed a penalty, we beat Sunderland and drew with Stoke in a tough game – it is not easy. ”I still have every confidence in the players here that we will start getting the results, and hopefully that will start on Sunday.” Redknapp’s current deal at the club expires at the end of the current campaign and for weeks he had been expected to sign an extension. But the former West Ham and Tottenham boss is not concerned about negotiating a new contract and is still enjoying a close working relationship with Fernandes. “I don’t need assurances from anybody,” he said. The 67-year-old guided the Hoops back into the Barclays Premier League through the play-offs last year, but the side have struggled on their return to the top flight, sitting bottom of the table with just four points from their opening seven games. Former Stoke and Crystal Palace manager Tony Pulis has joined ex-Tottenham boss Tim Sherwood as a reported candidate to fill the vacancy, should QPR owner Tony Fernandes decide a change is required. last_img read more

Pakistan beat Sri Lanka by 67 runs in second ODI in Karachi

first_imgPAKISTAN beat Sri Lanka by 67 runs in the second day-night international on Monday as Karachi staged its first ODI for 10 years.Pakistan hit 305-7 in their 50 overs with Babar Azam notching a brilliant 105-ball 115 and Fakhar Zaman scoring 54.Sri Lanka were bundled out for 238 in 46.5 overs with Usman Shinwari taking 5-51, giving Pakistan a 1-0 lead in the three-match series.The Green Shirts had won the toss and opted to bat first against the visitors.After starting strong, Pakistan lost their first wicket in the 15th over, when Imam-ul-Haq (31 off 41) was trapped leg before wicket by Wanindu Hasaranga.Fakhar Zaman (54 from 65) was next to go, getting caught by Isuru Udana off Hasaranga in the 21st over.Haris Sohail (40 off 48) became the casualty of a run out off Nuwan Pradeep’s bowling in the 40th over.Skipper Sarfaraz Ahmed was run out after scoring eight runs and Babar Azam, who smashed a 105-ball 115, was caught off Lahiru Kumara in the 46th over.Imad Wasim was caught out after contributing 12 runs and Wahab Riaz (2) was run out at the non-striker’s end on the last ball of the innings. Pakistan thus finished their batting with 305-7 at the end of the 50 overs.The long-awaited first ODI between the two sides was called off due to heavy rain in the metropolis on Friday. The second ODI, which was originally scheduled for Sunday, was rescheduled for today and the third match will be played on Wednesday.Monday’s match was the first ODI played in Karachi after a yawning gap of exactly 3,901 days, equivalent to 10 years, eight months and six days.The two teams will also play three Twenty20 internationals in Lahore next month.(AFP)last_img read more