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RISK aversion dominated globally due to rising coronavirus cases as well as dwindling prospects of US fiscal aid before the US elections. This led investors to flock to the safe-haven dollar – sending the dollar index to a nearly two-week high, up 0.86% to 93.86.
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.
The dollar started the week and the final quarter of 2020 on softer footing
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.
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.