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THE US dollar witnessed a sell-off, down 1.7% to 96.677, marking a two-month low as risk-on sentiment permeates global markets after US-China tension dwindled as President Donald Trump’s measures were seen not as severe as feared.
THE safe-haven dollar, pared losses during the week, closing lower by 0.21% at 96.73.
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.
THE US dollar depreciated by 0.49% to 97.60 due to resurgent coronavirus infections in the US, and the prospect of improving growth abroad, souring investors’ appeal on the dollar.
RISK appetite improves after the US Federal Reserve vows to support the virus-battered economy, sending the dollar to a two-year low of 93.39, down 1.11% week-on-week (w/w).
THE dollar advanced 1.54% to 93.35, near a two-month high as the risk sentiment dents ahead of the November US elections as well as a continued increase in Covid-19 infections.
The dollar started the week and the final quarter of 2020 on softer footing
THE dollar continued to decline for the second consecutive week, down 0.25% w/w to 93.61, underpinned by persistent upbeat sentiment in global markets, supporting investors’ risk appetite as investors continue to bet on some form of fiscal aid emerging ahead of the US elections.