US dollar is losing against major currencies and gaining on emerging markets
The US dollar is losing value on April 17. European investors are becoming less risk-averse, reassured by the positive data concerning the pandemic.
At 0735 GMT the U.S. Dollar Index has gained 0.1% and stood at 100.17. EUR/USD has gone up 0.1%, reaching 1.0840. GBP/USD dropped by 0.1%., reaching 1.2445. USD/JPY has gone down 0.2%, reaching 107.72.
President Trump revealed new framework for the restart of the national economy, abandoning earlier claims that he is able to fully control state governors. The plan has no hard dates.
Risky investments were encouraged by a big announcement of Gilead Sciences. Biotech company has revealed that first trials of its new drug Remdesivir, aimed at fighting the virus, have demonstrated optimistic results in treating the COVID-19 virus.
The dollar is still in higher position, since the safe haven investments are still prioritized. On April 16 new data on jobless claims has revealed that more than 22 million US citizens had sent their applications for welfare benefits in March.
US currency is also trading strong against the currencies of the emerging markets. USD/TRY gained 0.1% and traded at 6.9467. The lira is now headed for all time lows level, that it reached in 2018. This trading sector has been impacted by the pessimistic IMF forecast.