Dollar rises, investors seek safe-haven assets on COVID-19 fears

20.07.2021 - Davydova Maria
Dollar rises, investors seek safe-haven assets on COVID-19 fears

The dollar rose on Tuesday morning in Asia, while growing fears that the COVID-19 Delta variant could hamper economic recovery resulted in an increase in safe-haven currencies.

The greenback and the Japanese yen placed near multi-month highs versus the Australian dollar and the pound.

The U.S. Dollar Index that measures the greenback against other major counterparts tallied a 0.05% increase to 92.94.

The USD/JPY pair jumped 0.05% to 109.50.

The AUD/USD pair dropped 0.22% to 0.7325, while the NZD/USD pair declined 0.53% to 0.6906.

The USD/CNY pair remained at 6.4892, while the GBP/USD pair slid 0.07% to 1.3662.

The dollar reached its highest level since early February 2021 at $1.3655 against the pound. It hit an almost eight-month high of $0.73225 against the Australian currency at the start of the trading week.

The yen climbed to 80.05 per Australian dollar for the first time since early February 2020 during the last session, and traded at 80.40 in the Asian session. It achieved an almost three-month high of 149.35 against the pound overnight.

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