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Dollar strength consolidates as global recession looms


Friday, 3 April 2020 08:50 WIB

Dolar AS


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The dollar edged toward an almost 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic.

The gains consolidate the dollar’s strength after a topsy-turvy end to last month, which had the dollar soaring in a scramble for cash, then slumping as the U.S. Federal Reserve flooded the market with liquidity.

The dollar was firmer against most other major currencies, last trading at $0.6054 per Australian dollar, $0.5903 per New Zealand dollar and $1.2376 per pound. It bought 108.00 Japanese yen.

Source: Reuters


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