Dollar Dips As Virus Recovery Optimism Holds
Tuesday, 26 May 2020 09:18 WIB | CURRENCIES |DOLLAR

The dollar inched lower on Tuesday as growing optimism about a global recovery from the COVID-19 pandemic supported riskier currencies, though concerns about Sino-U.S. tensions held further moves in check.

After a quiet start to the week due to holidays in Britain and the United States, the greenback was a fraction softer against most Asian currencies.

Against a basket of currencies the dollar was roughly where it ended last week, holding at 99.692. The Japanese yen fetched 107.79 per dollar.

The Australian and New Zealand dollars rose about 0.3%, but kept below last week™s highs even as stock markets forged ahead.

The Chinese yuan, a barometer of relations between the world's two biggest economies, firmed a bit to 7.1427, though it remains near a two-month low of 7.1465 hit on Friday.

The Australian dollar was steady at $0.6559, and the kiwi at $0.6112.

Source : Reuters

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