Dollar is rising and posting its best weekly performance since April

0
50


The dollar rose today, Friday, to its biggest weekly gain since early April, in light of investor concern about the slowdown in the economic recovery, the increase in cases of Coronavirus in Europe, and the uncertainty over stimulus in the United States and the upcoming elections there, according to Reuters.
Although the dollar fell slightly on Thursday after four days of gains, and in light of the rise in stocks in the hope of stimulus, the US currency resumed its rise today with growing concerns.
The dollar index, which measures the performance of the greenback against a basket of major currencies, was last trading 0.31% to 94.601 and on its way to its best weekly gain in percentage since early April.
Posting five consecutive days of gains against the Japanese yen, the dollar has achieved its best weekly performance against the yen since early June. The yen fell against the dollar today, to 105.60.
The euro suffered its biggest weekly loss against the dollar since early April. The dollar, which is increasing against the Swiss franc for a sixth consecutive day, also recorded its biggest weekly gain since early April against the European currency.
The euro fell today 0.4 percent to $ 1.1627, after reaching its lowest level in nearly two months.
Risk currencies fell, as the Australian dollar fell 0.28 percent today, and a weekly decline of 3.6 percent, the biggest weekly decline since the week ending March 20. The New Zealand dollar lost 0.08 percent against the greenback today, but its weekly decline is the largest since the week ending May 15.





LEAVE A REPLY

Please enter your comment!
Please enter your name here