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Dollar in Demand as Economic Damage Worsens
Wednesday, 1 April 2020 15:13 WIB | CURRENCIES |Dolar AS Indeks Dolar

The dollar traded a little higher Wednesday, helped by its status as a safe haven currency as manufacturing data out of Asia pointed to a severe economic slowdown as the region tries to combat the coronavirus pandemic.

At 03:10 AM ET (0710 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 99.430, up 0.3%. EUR/USD fell 0.4% to 1.0980, while GBP/USD dropped 0.56 to 1.2353. USD/JPY climbed 0.1% to 107.61.

Factory activity dropped sharply across most of Asia in March, according to the latest Purchasing Managers' Index surveys, with regional economic powerhouses Japan and South Korea, posting their biggest contractions in about a decade.

Source : Investing.com

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