The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery.
The dollar index bounced 0.4% from a two-year low, while the Aussie fell 8%, breaking its 15-month peak on Wednesday.
The yen slid 0.3% to 105.24 on the dollar but gained on other majors as the market stayed cautious and focused on the U.S. and European data, as well as the U.S. coronavirus fiscal package.
The euro fell 0.3% to $1.1745 but has gained nearly 47% on the dollar in July.
Meanwhile, the escalating U.S.-China tensions dragged on risk sentiment, putting pressure on commodity currencies. The Aussie lost 0.8% to $0.7132 and the kiwi slid 0.7% to $0.6623.
The yuan also slid to 7.0055 on the dollar. The Chinese currency has slumped despite the dollar’s weakness due to the countries’ diplomatic issues including territorial claims in the South China Sea and Beijing’s security law in Hong Kong.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...