After losing its safe haven appeal earlier in the week, the dollar was stronger again yesterday after worries resurfaced over coronavirus infection rates and local lockdowns. However, it looks weaker against the pound and euro this morning.
In Melbourne, Australia, lockdown measures were re-imposed for at lease another six weeks. Miami in Florida was also forced to rollback the easing of restrictions after a surge in infections.
Federal Reserve Official, Raphael Bostic, warned that the US’ economic recovery may be ‘levelling off’ and added that the Fed is watching this very closely.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
