The dollar firmed, while risk currencies fell under pressure as investors doubted the economy would recover soon amid a surge in new coronavirus infections around the world.
As the United States posted record levels of fresh cases each day, the dollar held on to last week’s gains. Meanwhile, risk currencies Aussie and kiwi fell to the lowest levels in the ranges they traded in for weeks.
The dollar index steadied at 97.466. The Aussie stood at $0.6872 and the kiwi at $0.6420.
The safe-haven yen traded at 108.18 on the dollar.
New social restrictions have been imposed in Beijing, Lisbon, and several U.S. states as cases continued to rise. The death toll from the coronavirus pandemic has climbed to half a million, with a quarter of the number reported in the United States.
Elsewhere, the pound sat at $1.2341, while the euro is expected to hold its momentum against the dollar.
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 outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...