The euro hit a four-month peak against the dollar on Wednesday on hopes that the European Union would implement economic stimulus and deeper fiscal integration to support the economy amid the pandemic.
The euro rose to $1.1423, its highest since early March. It hit a one-month high of 122.47 on the Japanese yen and was at a two-week high on the pound at 91.125 pence.
The euro was lifted by hopes that the EU could agree on a rescue financing package to shield the economic zone from damage.
The dollar index fell to a one-month low of 96.056.
The dollar fell further on Tuesday after U.S. consumer prices bounced 0.6% month-on-month. Also adding to the risk appetite was the positive result of the early-stage study of Moderna Inc’s experimental vaccine for COVID-19.
The risk-sensitive Aussie gained 0.2% to $0.6985. The pound stood at $1.2571, while the yen sat at 107.27 on the dollar.
The Canadian dollar broke from a two-week low to C$1.3600.
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 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 ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...