Dollar fell as risk appetite rose amid hopes for a cure for the virus

US, WASHINGTON (ORDO NEWS) — The dollar fell on Friday as news of signs of success in testing the drug for treating coronavirus, as well as early plans to resume the US economy, sparked optimism and risk appetite.

The STAT medical news website, citing a recorded discussion between doctors participating in the clinical trial, said that most of the 125 patients taking Gilead’s Remdesivir drug in a hospital in Chicago recovered.

Gilead reported that separate reports did not contain the data necessary to determine the safety or effectiveness of Remdesivir as a drug for the treatment of COVID-19, and that it expects more data at the end of the month.

“The market is looking for good news – grabbing, hoping and praying,” said Imre Spizer of Westpac.

The dollar lost about 0.3%, trading at $ 1.0867 per euro and $ 1.2492 per pound to 8.39 Moscow time. The US currency dropped 0.2% against the yen to the level of 107.72 yen.

The Australian dollar added 0.6% to $ 0.6361 against the dollar, while the Qiwi rose 0.7% to $ 0.6009.

The Chinese economy contracted 6.8% in the first quarter, the data almost coincided with analysts’ forecasts. At the same time, industrial production declined less than expected.


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

Contact us: [email protected]