Tuesday, 07 July 2020
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Dollar nurses losses as currency markets eye recovery prospects
Thursday, 21 May 2020 08:29 WIB | CURRENCIES |DOLLARCurrency Euro

The dollar nursed broad losses on Thursday and riskier currencies held gains as investors looked to a bright recovery from the COVID-19 pandemic, shrugging off diabolical forecasts and rising Sino-U.S. tension.

In bullish overnight trade, the risk-sensitive Australian dollar broke free from two months of rangebound moves to hit a ten-week high of $0.6616. The kiwi hit a ten-day top of $0.6157 and both seemed poised for further gains.

The euro hit its highest in three weeks, the Swiss franc its highest in two weeks and the Chinese yuan its highest in one week, while emerging market currencies also surged.

In Asia, the euro last sat just below that peak at $1.0975 and the dollar inched higher on the Japanese yen to 107.68.

Source : Reuters

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