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Felicia Tan
in
Forex
June 26 21:30

USD keeps being afloat

At the beginning of the European trading session on Friday, the dollar kept strong positions, as traders seek a "safe haven" amid the growing number of coronavirus patients in the U.S..
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At 03:10 a.m. Eastern Time (07:10 UTC), the dollar index, which tracks its rate against a basket of six other currencies, rose by 0.1% to 97.420.
The pair EUR/USD lost 0.1%, the euro dropped to US$1.1211, GBP/USD fell by 0.1% to 1.2408, while USD/JPY fell by 0.1% to 107.13.
Economic data on Thursday indicated a recovery of the U.S. economy, with another slight decline in unemployment claims and a significant increase in orders for durable goods. The data on consumer spending will be released on Friday, as well as data on business sentiment from the University of Michigan.
However, this optimism is generally overshadowed by news of a record number of new coronavirus cases across the US with the Health Department reporting more than 37,000 new cases on Thursday.
The second wave of the virus is no longer relevant to the US alone. Virus growth in developed and developing countries remains a challenge to economic recovery, not least in the tourism sector.
The pair USD / PLN rose by 0.1% to 3.9712, while EUR / LN rose by 0.1% to 4.4520.