Dollar hooks on 2-month highs amid COVID-19 fears

Dollar hooks on 2-month highs amid COVID-19 fears

Dollar hooks on 2-month highs amid COVID-19 fears

LONDON (Reuters) – The dollar latched onto two-month highs on Wednesday after weak economic data and fears of a second wave of the coronavirus epidemic in Europe highlighted positive US economic data.

The dollar index against a basket of six major currencies rose 0.15% to 94.132 by 3:00 pm Moscow time.

The Japanese yen fell 0.19% against the dollar at 105.11 yen. The euro eased 0.17% to $ 1.1687, while the pound sterling slipped 0.09% to $ 1.272.

The safe Swiss franc was down 0.22% to $ 0.9212. In a pair with the euro, the currency fell 0.01% to 1.0769.

The yuan in the mainland market fell by 0.2% to 6.7912, in the offshore market it decreased 0.29% to 6.7994.

The Australian dollar fell 0.79% to $ 0.7117. The Kiwi dropped 0.72% to $ 0.6586.

“At present, the market is again dominated by fears of a second wave of the coronavirus epidemic, primarily in Europe, which means that the dollar is again in demand,” analysts at Commerzbank (DE: CBKG) wrote.

The dollar is likely to rise further as the coronavirus erodes sentiment in Europe, but uncertainty about the outcome of the US presidential election this year means the dollar will be more volatile.

(Julien Pontus. Translated by Alexey Kuzmin. Editor Anna Kozlova)

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