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The dollar fell against its peers on Thursday as a rally in risky assets such as commodities and global equities overshadowed safe-haven demand.
The Chinese yuan rose to a four-month high of 6.9875 against the dollar. Investors shrugged off the diplomatic tensions between the United States and China as the latter’s economy continued to improve and as its technology sector attracted investors.
The dollar stood at 0.9381 on the Swiss franc and neared a three-week low of 1.2613 on the pound. It steadied at 107.33 on the yen.
The euro rose to $1.1339, while the British pound steadied at 89.91 pence per euro.
Analysts say that some currency pairs could remain in tight ranges, while the dollar could fall deeper as the market sentiment continues to favor risky bets on long-term economic growth.
The Australian dollar stood at $0.6978 and the New Zealand dollar at $0.6573.
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 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
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 ...
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 ...
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 ...
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