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The Dollar, as well as other safe-haven currencies, performed well on Friday even as recovery hopes were weighed down by a surge of COVID-19 cases in the U.S.
Over 60,000 new cases were reported across the United States on Wednesday, a record hike in numbers in a single day. However, souring market sentiment helped buoy the Dollar Index to 97.798 on Friday, after it had sunk to a one-month low of 96.233 the day before.
The Euro fell against the Greenback, last trading at $1.1288 after it retreated from a one-month high of $1.1371 on Thursday.
Against the Japanese Yen, the Dollar traded at ¥107.20, reaching its lowest in ten days in a previous session.
The Swiss Franc traded at $0.9407 after reaching a four-month high of $0.93625 against the Dollar. Against the Euro, the Swiss Franc traded at €1.0609, boosting the safe-haven currency to its highest in six weeks.
Down Under, the Australian Dollar steadied at 0.69605 per Dollar, losing a fraction of Thursday’s one-month high of $0.7001.
Meanwhile, the offshore Yuan fell against the Dollar by 0.03% to $6.999 after it had reached a near-four-month high of $6.9808 on Thursday.
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 ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
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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