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Euro Stays Quiet on Europe's Day Off; Australian Dollar Sinks


Friday, 1 May 2020 14:44 WIB

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The euro stabilised against the U.S. dollar on Friday, having rallied the day before to a two-week high on month-end flows and on news that the European Central Bank will make loans to banks even cheaper.

Much of Europe was closed on Friday for the International Workers' Day, as was much of Asia, but a new month brings a new set of worries to investors as coronavirus infections rise to 3.3 million globally, claiming more than 230,000 lives.

The U.S. dollar was down slightly against the Japanese yen as well, trading at 107.07 yen , though another metric of distress in the markets - the Australian dollar - fell by 1% to 0.6447, its weakest since Tuesday .

The Canadian dollar also fell, by 0.5% to 1.4016 against the greenback .

Analysts attributed the moves to poor equity performance in the United States.

Sterling gave up some of the gains it made the day before, trading down 0.4% against both the dollar and the euro, at $1.2550 and 87.31 pence respectively.

The euro was last up 0.1% at $1.0969.

Source : Reuters


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