Risk currencies gain on the dollar, economic recovery underway

08.05.2020 - Petr Mazaylo
Risk currencies gain on the dollar, economic recovery underway

The dollar fell on Friday as investors bought risky currencies due to gloomy U.S. employment data yet to be released.

The market mood eased after the United States and China said that their top negotiators agreed to cooperate amid the economic and health crisis.

The dollar index slid 0.2%, at 99.673. The euro rose 0.1%, at $1.0847.

The Australian dollar climbed 0.6%, at $0.6534. Prime Minister Scott Morrison said that Australia is going to lift its social restrictions in a three-step process.

The dollar’s slip against risky currencies showed that investors are beginning to favor the latter as global shares rallied. The Nasdaq index is recovering its losses this year.

Amid the aggressive monetary easing worldwide, the market mood was lifted as some countries in Europe and states in the United States began lifting lockdowns. 

The dollar traded at 106.38 against the safe-haven Japanese yen.

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