Dollar drops, riskier currencies posts gains
The dollar weakened on Monday morning in Asia, though it placed near the highest level in more than nine months. The Australian dollar stayed near multi-month lows due to lingering concerns on the COVID-19’s impact to economic recovery.
The U.S. Dollar Index that measures the greenback against other major currencies dropped 0.17% to 93.352 by 10:27 PM ET (2:27 AM GMT).
The USD/JPY pair climbed 0.02% to 109.82.
The AUD/USD pair jumped 0.40% to 0.7163, while the NZD/USD pair tallied an increase of 0.34% to 0.6848.
The USD/CNY pair was down 0.15% to 6.4911, and the GBP/USD pair gained 0.19% to 1.3647.
Meanwhile, the riskier New Zealand and Australian dollars slowly recovered from their previous losses, with the latter hovering near Friday’s nine-and-a-half-month low of $0.71065.
The United States’ Federal Reserve is set to discuss the continuous COVID-19 outbreak in its annual Jackson Hole symposium on August 26.