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Felicia Tan
in
Forex
July 16 16:55

US dollar fell in price amid falling demand for safe assets

Swiss frank has become the weakest currency of the Big Ten over rumors that the EU can agree on an aid plan in the amount of 750 billion euros.
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US dollar on Wednesday fell in price against all the G-10 currencies except the Swiss franc. The weakness of the U.S. currency happened due to the positive news regarding the development of a vaccine against coronavirus, as well as strong quarterly reports of the reputable U.S. investment bank Goldman Sachs.
Euro rose against the dollar to 1,1450 on Wednesday, a new 4-month high.
Swiss franc was the weakest currency in developed markets. It fell in price against the dollar, but for 4 consecutive days it has been losing markedly against the euro. Perhaps, this is due to positive expectations of the results of the summit on Friday. There are rumors in the camp of market participants that there are chances to resolve controversial issues of the economic recovery plan in the amount of 750 billion euros. The reduction of risk is reflected in sales of Swiss currency.