The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Currencies 2 MIN READ

US recap: Risk aversion fuels dollar, sends EUR/USD below parity

August 22, 2022By Reuters
Related Articles
Philippine-held island in South China Sea suffers typhoon damage December 22, 2021 Gold trims losses after US Fed minutes; firmer dollar weighs August 17, 2022 Oil rises over USD 3 on Kurdistan export halt, banking optimism March 27, 2023

Aug 22 (Reuters) – The dollar rallied on Monday as China’s rate cut served as a reminder of the vulnerabilities of the world’s second largest economy and Europe’s energy woes also weighed on investor sentiment, sending safe-haven flows to the US currency.

The dollar index was heading toward the US close up 0.75% as risk was significantly hit, with the S&P 500 falling nearly 2%, and currencies not seen as top safe havens suffered.

Adding to the dollar bid were price rises for natural gas and expectations that Fed Chair Jerome Powell will add his voice to the chorus of US policymakers touting a higher-for-longer rate path to fight inflation, which remains well above the 2% target with no prospects of returning soon.

EUR/USD fell 1.03% to 0.9936, putting in a new trend low at 0.9927 amid the broad global growth anxieties and high gas prices, which have exacerbated European growth uncertainties.

USD/JPY gains were tempered since both the dollar and yen are safe havens and thus benefited from the broad trend of risk aversion, but it still managed to advance 0.25% to 137.36, with US-Japan rate divergence likely to result in new 2022 highs above 139.38 after the upcoming Jackson Hole symposium.

GBP/USD put in a new 2022 low at 1.1744, bouncing slightly to 1.1770 as the NorAm close approached.

GBP/USD has been dogged by Britain’s G7-high inflation, which has also increased UK recession fears.

AUD/USD backed off early US gains and headed toward a loss of about 0.1% to 0.6866. US yield gains and China growth concerns were too much for aussie bulls to withstand as copper and oil held losses.

Broad risk-off trading and rising US rates weighed on bitcoin and ether, which fell slightly more than 1%. Higher rates also pushed gold lower by 0.65%.

(Editing by Burton Frierson; Paul Spirgel and Christopher Romano are Reuters market analysts. The views expressed are his own.)

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up