The US dollar will continue to dominate currency markets for at least another three months as investors prefer the safety of the greenback in a world fraught with risks emanating from the coronavirus crisis, a Reuters poll showed.
The dollar rose against the euro and the Swiss franc on Tuesday but was off its highs, modestly pressured by the weight of Federal Reserve measures meant to ensure there was enough liquidity in the global financial system.
Zimbabwean teachers were divided at the start of an indefinite strike on Tuesday, with those in towns reporting for class while their rural colleagues largely heeded calls by unions to boycott work.
The dollar held onto gains on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for the US currency.
The dollar inched lower on Tuesday as growing optimism about a global recovery from the COVID-19 pandemic supported riskier currencies, though concerns about Sino-US tensions held further moves in check.
The dollar nursed losses against major currencies on Tuesday after encouraging data from the trial of a vaccine for COVID-19 reduced safe-haven demand for the greenback.
The dollar rose to a two-week high against major peers on Tuesday, propelled by rising US bond yields and increasing safe-haven demand amid growing fears about a second wave of coronavirus infections, which sent riskier currencies lower.
World stock markets rose on Tuesday led by gains in Europe and Asia as signs of progress in curbing the spread of the novel coronavirus fueled investors’ appetite for risk, though a steep, late sell-off on Wall Street erased gains in US stocks.
Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.
The dollar soared across the board on Wednesday, hitting multi-year highs against several major currencies, as companies and investors worried by the coronavirus outbreak rushed to the perceived safety of the US currency.