The dollar and the yen edged higher on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for both currencies.
FILE PHOTO: Japan Yen and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration
A surge in new coronavirus infections in several U.S. states and the imposition of travel curbs in Beijing to stop a separate outbreak have served as a reminder that the pandemic could be a severe drag on the global economy for a protracted period. The dollar traded at $1.1234 per euro on Thursday in Asia following a 0.2% gain in the previous session.The yen edged up to 106.79 against the dollar.
China’s capital has cancelled scores of flights and blocked off some neighbourhoods to contain a coronavirus outbreak that has fanned fears of wider contagion. Across the Tasman Sea, the New Zealand dollar also fell to $0.6432 on equally grim data, which showed the economy shrank more than expected in the first quarter.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meet The Forbes Under 30 Founders Leading The Next Billion-Dollar StartupsMeet the six Forbes Under 30 companies that could well be the next unicorns.
Read more »
Dollar treads water on Fed views, geopoliticsThe dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar.
Read more »
Dollar firm after retail sales jump fans recovery hopesThe dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May, while risk-sensitive currencies were hobbled by concerns about the coronavirus and diplomatic tensions in Asia.
Read more »
‘The dollar is going to fall very, very sharply,’ warns prominent Yale economistStephen Roach warns the “world is having serious doubts about the once widely accepted presumption of American exceptionalism.”
Read more »
What is a zero-sum budget? It gives every single dollar a specific job - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
U.S. economic recovery hinges on virus being under control, Fed's Powell saysA full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chair Jerome Powell said on Tuesday as he began the first of two days of hearings before U.S. lawmakers.
Read more »