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Dollar Stands Tall as U.S. Retail Slump Fans Flight to Safety


Thursday, 16 April 2020 08:15 WIB

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A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus pandemic.

The dollar's index against a basket of six other major currencies stood at 99.632, maintaining the 0.8% gain from the previous session.

The euro backed off to $1.0911 from a two-week high of $1.0980 while the dollar stood at 107.42 yen , having added 0.2% on Wednesday.

U.S. data underlined fears that damage to the economy from the coronavirus outbreak will be deep and protracted.

Source : Reuters


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