Dollar on Defensive as Markets Pin Hopes on Global Economic Recovery
Tuesday, 2 June 2020 08:45 WIB | CURRENCIES | Indeks Dolar EuroDolar ASPoundsterling

The dollar was on the defensive on Tuesday as investors stuck to hopes of a global economic recovery despite heightened concerns over U.S.-China tensions and mass protests in many U.S. cities over the death of a black man in police custody.

The U.S. dollar's index against a basket of six major currencies (=USD) stood at its weakest level since mid-March, at 97.790.

The euro fetched $1.11295 (EUR=), little changed so far on Tuesday but holding near a 2-1/2-month high of $1.1154 touched on Monday.

Sterling traded at $1.2491 , having hit a one-month high of $1.2506.

Against the safe-haven yen, the dollar was at 107.57 yen , stuck in a well-worn range between 106 and 108 over the last several weeks.

President Donald Trump said on Monday he was deploying thousands of heavily armed soldiers and law enforcement to halt violence in the U.S. capital and vowed to do the same in other cities if mayors and governors fail to regain control of the streets.

The protests erupted over the death of George Floyd, a 46-year-old African-American who died in Minneapolis police custody after being pinned beneath a white officer's knee for nearly nine minutes.

Source : Reuters

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