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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 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.
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 safe-haven dollar, pared losses during the week, closing lower by 0.21% at 96.73.
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.
AMID a short working week due to Memorial Day, the US dollar witnessed a sell-off, losing 1.48% to 98.38, underpinned by global risk-on sentiment – which led to robust buying in the equity space with the Dow Jones rising 3.8% week-on-week (w/w) to 25,401 while the S&P 500 climbing 2.5% w/w to 3,030.
THE US dollar strengthened 0.73% to 100.466, benefiting from safe haven flows as investors turned wary over a potential second wave of the Covid-19 infection as many countries eased their lockdowns. The dollar also received additional impetus following:
THE US dollar appreciated by 0.41% to 99.89 owing to worsening US-China relations following:
THE dollar depreciated 1.26% to 99.11 largely due to the month-end rebalancing added with the dovish Federal Open Market Committee (FOMC) meeting after the Federal Reserve (Fed) opened the door for more monetary easing and dampened expectations for a quick economic recovery from the coronavirus crisis.