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Dollar Holds Gains as Coronavirus Woes Sap Confidence
Wednesday, 8 July 2020 08:32 WIB | CURRENCIES | EuroDolar ASSwissFrancPoundsterling

The dollar held onto gains on Wednesday as a resurgence of the coronavirus in the United States and the return of lockdowns in some countries boosted safe-haven demand for the U.S. currency.

Risk sentiment was also undermined after Federal Reserve officials expressed concern that rising coronavirus cases could harm economic growth just as stimulus measures start to expire.

The dollar traded at 107.58 yen in Asia following a 0.3% gain on Tuesday.

Against the euro, the dollar was quoted at $1.1274, also holding to a 0.3% gain from the previous session.

The greenback bought 0.9426 Swiss franc, little changed on the day.

Sterling changed hands at $1.2540 and was quoted at 89.88 pence per euro.

The pound was near three-week highs against both the greenback and the common currency after British Prime Minister Boris Johnson reiterated his commitment to reaching an early trade deal with the European Union.

Source : Reuters

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