Dollar steadies below two-month highs, risk currencies recover losses

25.09.2020 - Kulakov Vladimir
Dollar steadies below two-month highs, risk currencies recover losses

The dollar steadied below its recent two-month highs on Friday and risk currencies recovered weekly losses, while equity markets were boosted by hopes that U.S. fiscal stimulus talks would resume.

The dollar is on course for its best week since early April, supported by risk aversion that urged investors to quit their sell positions amid bleak outlook on global economic recovery caused by the coronavirus.

Stocks climbed after a late tech-driven rally on Wall Street, with sentiment lifted by a key lawmaker saying that Democrats in the U.S. House of Representatives are working on a $2.2 trillion coronavirus stimulus package.

The kiwi climbed 0.6% to 0.6584 on the dollar, but down 2.6% for the week. The Aussie rose 0.5% to $0.7086, but on course for its worst week against the dollar.

The dollar index was down 0.1% to 94.246 but up 1.3% this week, its biggest weekly gain in six months.

Britain announced new restrictions on Tuesday, while France reported that patients in intensive care due to COVID-19 hit 1,000 for the first time since early June.

The euro climbed 0.1% to $1.1676 on Friday but is down 1.4% for the week. The yen slightly rose to 105.385 against the dollar, while the Swiss franc climbed 0.1% on the euro. 

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?