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Foreign Exchange

Date: October 2, 2020

Investors are warning against higher volatility and a potentially deeper selloff in risk assets after the news of President Donald Trump and the First Lady testing positive for Covid-19 shattered the calm in global markets Friday.

 

Sterling rose early on Friday before Britain’s David Frost and the European Union’s Michel Barnier meet to continue Brexit talks.

 

The European Central Bank should prepare to issue a digital euro to complement banknotes “if and when” it becomes necessary, ECB board member Fabio Panetta said on Friday.

 

The U.S. Federal Reserve, the Bank of Japan and the Bank of England have all struck a cautious tone regarding the possible introduction of digital currencies by central banks.

 

U.S. job growth likely slowed further in September as the recovery from the COVID-19 slump shifts into lower gear amid diminishing government money and a relentless pandemic, leaving many at the risk of being permanently unemployed.

 

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