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
Dollar fell amid a slowdown in panic sales 2

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.