Dollar fell amid a slowdown in panic sales

US, WASHINGTON (ORDO NEWS) — The dollar could show a maximum weekly decline of more than ten years on Friday, as a number of incentive measures around the world, including a package of $ 2.2 trillion in the United States, have helped contain panic in global markets caused by the coronavirus pandemic.

File Reuters

The number of applications for unemployment benefits in the US over the past week increased sharply to 3.28 million, while analysts, based on preliminary data, predicted growth to 1 million. But the subsequent rise in Wall Street indices gave hope that the sale of risky assets has not yet continued.

The dollar fell by more than 1% to Y108.41 Yen, mainly due to the return of funds to Japan on the eve of the end of the fiscal year in March. The euro strengthened 0.35% to $ 1.1067 after a jump of 1.40% on Thursday.

The biggest changes among the major currencies were shown by the pound sterling, which rose by 2.8% on the eve. On Friday, the pound slowed, rising 0.66% to $ 1.2281.

Improving the situation with the supply of the dollar helps to reduce the demand for the American currency.

The dollar index against the major currencies weakened by 0.34% to 98.955, falling on Thursday by 1.5%, which was the maximum daily decline in almost four years.

The Australian dollar added 0.93% to $ 0.6119, more than 10% higher from the 17-year low of $ 0.5510 reached last week.

The New Zealand dollar was up 0.4% to $ 0.5985.

The Mexican peso fell 1.5%, losing part of the gain this week after S&P on Thursday downgraded Mexico’s sovereign rating to BBB from BBB + in anticipation of an economic blow from the coronavirus pandemic and amid falling oil prices.

The peso fell 0.9% to 23.132 against the dollar. Nevertheless, since the beginning of the week he added about 5%.


Our Standards, Terms of Use: Standard Terms And Conditions.

Contact us: [email protected]

The article is written and prepared by our foreign editors from different countries around the world – material edited and published by Ordo News staff in our US newsroom press.