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Dollar Dips Amid Negative Rates Concerns


Friday, 8 May 2020 16:08 WIB

Indeks DolarDolar ASGBP/USDEUR/USDUSD/JPY,


The U.S. dollar weakened in early European trade Friday as the onslaught of grim economic numbers raised the specter of negative U.S. interest rates, undermining the yield advantage of holding dollar-denominated assets.

At 2:55 AM ET (0655 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 99.775, down 0.1%, while EUR/USD rose 0.1% to 1.0838 and GBP/USD pushed 0.2% higher to 1.2386. USD/JPY gained 0.1% to 106.41.

Thursday’s initial claims report revealed that 3.169 million Americans claimed unemployment last week, meaning more than 33 million have now filed for support since the coronavirus pandemic ripped through the economy.

Source : Investing.com


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