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Dollar Dips as Risk Sentiment Proves Elusive
Wednesday, 8 July 2020 15:30 WIB | CURRENCIES |DOLLARDolar AS

The dollar dipped slightly on Wednesday as investors weighed hopes for a swift economic recovery against fears about a resurgence in the pandemic, particularly in the United States.

Demand for the U.S. currency as a safe haven ticked down as oil prices eased on oversupply fears, stocks dithered in Asia and European bourses opened in negative territory.

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 euro strengthened a modest 0.12% to $1.2870 while a recent fall in selling positions against the greenback provided room for possible further drops. The greenback bought 0.9414 Swiss franc, a 0.13% dip. Sterling rose 0.14% to change hands at $1.2560 but was stable against the euro at 0.8988 as talks resumed between the Britain and the European Union on terms for their future trade relations.

Source : Reuters

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