Dollar declines as lockdown measures ease

The U.S. Dollar fell on Monday morning in Asia, losing a portion of its gains from the start of the session.

The Dollar was bolstered after several countries planned to ease lockdown measures, improving investor sentiment. The three leading states for U.S. manufacturing – California, Michigan, and Ohio – had taken steps to resume factories and some businesses to resume operations.

The U.S. Dollar Index dipped by 0.04% to 99.725 at 11:25 PM ET (4:25 AM GMT) after the number of unemployment claims since late March in America rose above 30 million. Treasury Secretary Steve Mnuchin had warned overnight that the U.S. unemployment rate may have already reached 25%.

The Japanese Yen gained 0.16% to ¥106.82 per Dollar after Japan had pledged to roll out a second budget to soften the economic blow from the COVID-19 pandemic. The budget comprises of aid and subsidies for companies severely impacted by the pandemic.

Down under, the Australian Dollar rose by 0.38% to $0.6553 while the New Zealand Dollar gained 0.15% to $0.6142.

The British Pound Sterling rose by 0.15% to $1.2426 after U.K. Prime Minister Boris Johnson drafted plans to slowly lift lockdown measures on Sunday.