Dollar falls as markets favor risk sentiment

Dollar falls as markets favor risk sentiment

The dollar fell in early London trading on Monday, while risk currencies rose and European markets opened higher. Analysts said that the pick up in sentiment was caused by the approved treatment for COVID-19 patients by U.S. regulators. 

The global coronavirus death toll surpassed 800,000, with the United States at 170,000. 

Asian shares firmed overnight and European indexes opened higher. Risk currencies like the Norwegian crown and the British pound also gained on the dollar.

The greenback was down 0.1% to 93.105. The Aussie rose 0.3% to 0.7185 against the dollar, while the euro climbed 0.1% to $1.18075. 

Last week, the euro was outperformed by the dollar for the first time since June as U.S. business activity improved and European business surveys indicated a stalling economic recovery.

The kiwi was down 0.1% to 0.6532 despite the risk sentiment.

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