THE dollar appreciated by 0.10% to 97.40, benefiting from safe-haven flows following rising concerns about a rise in new coronavirus cases; and geopolitical risks – clashes along the India-China border, as well as fresh provocations by North Korea – blowing up a liaison office building it operates with South Korea.
Besides, the dollar received some impetus from retail sales data that came in better than expected at 17.7% m/m in May from -14.7% m/m in April (cons: 8.0% m/m); and the Trump’s administration plan to prepare a US$1 trillion infrastructure stimulus proposal to spur the economy.
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