Tuesday, 26 May 2020
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Dollar Gains Versus Yen, Swiss Franc; Sterling Weakens
Tuesday, 31 March 2020 15:13 WIB | CURRENCIES |PoundsterlingSwissFrancDolar AS Euro Yen

The dollar traded marginally higher Tuesday, helped by gains against the more defensive currencies, the Japanese yen and the Swiss franc, on the last trading day of the month.

At 3:05 AM ET (0705 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 99.597, up 0.3%.

USD/JPY gained 0.6% to 108.50, USD/CHF rose 0.5% to 0.9629, while EUR/USD fell 0.4% to 1.1005.

That said, the yen and the Swiss franc are often seen as safe havens during troubled times, and the better-than-expected China manufacturing PMI data will have given traders hope that some economic stabilisation may be possible going forward.

Additionally, GBP/USD dropped 1% to 1.2292, as the Fitch downgrading of U.K.™s sovereign debt rating on Friday continued to takr its toll on sterling.

Source : Investing.com

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