Dollar falls on COVID-19 woes

03.08.2021 - Petr Mazaylo
Dollar falls on COVID-19 woes

The dollar continued to weaken after losing against the Japanese yen on Tuesday. Apprehensions over global COVID-19 outbreaks and the United States’ manufacturing data dampened investors’ sentiments on a strong economic rebound from the pandemic.

The U.S. Dollar Index that measures the greenback against other major currencies tallied a crash of 0.02% to 92.043.

The USD/JPY pair fell 0.07% to 109.20, the lowest rate since late May 2021.

The AUD/USD pair shed 0.10% to 0.7368, while the NZD/USD pair climbed 0.37% to 0.6994.

The USD/CNY pair also jumped 0.05% to 6.4656, and the GBP/USD pair nudged 0.12% higher to 1.3897.

Investors started to be cautious due to the COVID-19 Delta variant surge in many countries.

Meanwhile, Monday data showed the U.S. manufacturing purchasing managers index (PMI) hit a better-than-expected 63.4 in July.

The Institute of Supply Management (ISM) manufacturing PMI placed at a lower-than-expected 59.5, while the ISM manufacturing employment index achieved a better-than-expected 52.9.

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