XE Market Analysis: North America – Oct 02, 2020

The yen and pound outperformed other currencies, the former finding safe haven demand amid pronounced risk-off positioning theme in global markets on news that President Trump, along with the First Lady and White House public relations counsellor, have tested positive for Covid, and the latter finding support from Brexit news. Global equity markets and most commodity prices tumbled, while prime sovereign bonds rallied with Trump’s health an added item on a growing worry list. With the U.S. president is now self-isolating, at the least his pre-election campaigning will be greatly curtailed.