Dollar sees gains despite U.S. COVID-19 concerns
The Dollar, as well as other safe-haven currencies, performed well on Friday even as recovery hopes were weighed down by a surge of COVID-19 cases in the U.S.
Over 60,000 new cases were reported across the United States on Wednesday, a record hike in numbers in a single day. However, souring market sentiment helped buoy the Dollar Index to 97.798 on Friday, after it had sunk to a one-month low of 96.233 the day before.
The Euro fell against the Greenback, last trading at $1.1288 after it retreated from a one-month high of $1.1371 on Thursday.
Against the Japanese Yen, the Dollar traded at ¥107.20, reaching its lowest in ten days in a previous session.
The Swiss Franc traded at $0.9407 after reaching a four-month high of $0.93625 against the Dollar. Against the Euro, the Swiss Franc traded at €1.0609, boosting the safe-haven currency to its highest in six weeks.
Down Under, the Australian Dollar steadied at 0.69605 per Dollar, losing a fraction of Thursday’s one-month high of $0.7001.
Meanwhile, the offshore Yuan fell against the Dollar by 0.03% to $6.999 after it had reached a near-four-month high of $6.9808 on Thursday.