Dollar Gains on Virus Worries; Sterling Shows Strength
Tuesday, 18 February 2020 16:01 WIB | CURRENCIES |AUD/USD,EUR/USDGBP/USDDolar ASDOLLAR

The return of risk aversion to the financial markets Tuesday has prompted more gains for the U.S. dollar, amid concerns about the extent of the damage caused by the coronavirus in China, but sterling is also showing signs of strength.

At 03:00 ET (08:00 GMT), EUR/USD traded at 1.0836, just off the low of 1.0823, the lowest level since April 2017. The U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 99.073, having earlier climbed as high as 99.132, again at heights not seen for over two years. GBP/USD traded at 1.30, down just 0.1%. Additionally, the USD/CNY pair gained 0.3%, climbing to 7.0022, and back above the physiologically important 7 level.

The Australian dollar also traded lower after the Reserve Bank of Australia reiterated that low interest rates will probably be required for an extended period, flagging concerns about the coronavirus. At 03:00 ET (08:00 GMT), the AUD/USD pair fell 0.4% to 0.6683.

Source : Investing.com

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