The dollar rose against other currencies as investors turned to safety after data revealed a worsening economic activity.
The dollar index showed a 0.2% gain, at 99.831. The euro fell 0.25%, at $1.0881 and the pound dropped 0.2%, at $1.2482. The dollar gained 0.4%, at $107.86 against the Japanese yen.
U.S. retail sales fell 8.7% in March, underscoring fears of deeper economic damage.
The Australian dollar lost 0.4%, at $0.6293. The New Zealand dollar was down 0.6%, at $0.5961 after central bank governor Adrian Orr said that negative interest rates were considered in battling economic fallout.
The Canadian dollar traded at C$1.4116 per US dollar while the Mexican peso lost 1.7%, at $24.4030.
The market mood was affected by the data on weak economic activity. However, investors remained hopeful that the pandemic is nearing its peak as countries globally, including the United States, plan to re-open their economies as soon as possible.
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 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
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 ...