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Dollar Still in Demand, For Now
Friday, 3 April 2020 15:17 WIB | CURRENCIES |USD/JPY,EUR/USDGBP/USDDolar AS

The dollar was in demand in early trading in Europe on Friday, as investors sought safety following the dire U.S. unemployment figures which illustrated the extent of the economic fallout from the coronavirus pandemic.

At 3:05 AM ET (0705 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, rose above 100 for the first time in over a week to stand at 100.460, up 0.2% on the day and up some 0.6% on the week. EUR/USD fell 0.3% to 1.0823, while GBP/USD rose 0.2% to 1.2367. USD/JPY climbed 0.1% to 108.02.

The outbreak of the pandemic has caused developed economies to virtually close down as governments attempt social distancing policies to stem the spreading of the virus.

Further evidence of the damage associated with these policies emerged in the United States Thursday, with an unprecedented number of workers - 6.6 million - filing jobless claims.

Source : Investing.com

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