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US Dollar Rises on Covid-19 Fears : 12-06-2020

News Date: 12/6/2020 06:35:34

The US dollar has returned to end the week’s trading higher, due to or thanks to increased concerns about the expectation of the second wave of the pandemic that struck America and the world, and this explains the direction of the US dollar and considered it a safe haven by investors, especially since the possibility of imposing new closings to limit the spread of the epidemic is a possibility. Especially since the number of Covid-19 virus infections exceeded 2 million.

The US dollar pair against the Japanese yen reached the first hours of the day at $ 107.30, while the US dollar pair rose against the euro by 0.17% to reach the level of $ 1.13.

And due to the release of the British economy data, according to which the latter contracted by 20.4% during the month of April compared to the previous month of March, the British pound declined at a record pace, so the price of the US dollar pair against the British pound reached the level of 1.26 dollars, down by 0.36 %, And it is expected that this will be the lowest levels of the pound sterling, which will be followed by faltering and long-term steps to achieve recovery again.

Japanese stocks fell dramatically after the Wall Street collapsed, this explained collapse by the fear of new injuries, and thus hampering the economy’s recovery, and for this reason the Nikkei 225 index decreased by 0.75% to reach 22,305.48, while the broader Topix index declined By 1.15%, to settle at 18.24 points.

Conclusion with the latest oil developments, oil prices have dropped by great levels, Brent crude has reached 37.21 dollars, down by 3.5%, and West Texas crude has reached 34.97 dollars, down by 3.8%, to continue losses after having Achieve an important ascending wave.


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