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Risk currencies buoyed by cautious hopes pandemic is peaking


Thursday, 9 April 2020 08:21 WIB

DOLLARCurrency EuroAussie


c_740_198_16777215_00_images_assets_CURRENCY3_00Australian-dollar-versus-USD.jpg

Risk-sensitive currencies climbed on Thursday on budding optimism the coronavirus pandemic may be peaking although the euro was dented by the European Union's failure to agree on more support for their weakened economies.

The Australian dollar fetched $0.6233, trading near its highest level since mid-March and extending its rally from its 17-year trough of $0.5510 touched three weeks ago.

The euro stood at $1.086, having slipped 0.35% on Wednesday, after European Union finance ministers failed in all-night talks to agree on more economic support for their coronavirus-stricken economies. The euro's drop overnight helped to lift the dollar index a tad to 100.120.

But the index is down 0.5% so far this week as safe-haven flows to the U.S. currency eased on rising hopes much of Europe and the United States could soon see themselves out of the worst period of the COVID-19 pandemic.

Source : Reuters


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