Despite the demand for safe-haven currencies increasing, the dollar remains in a weak position against most currencies. This is due to worries over rising infection rates in the US and the re-introduction of lockdown measures.
The IHS Markit US Manufacturing PMI was revised lower to 50.9 in July 2020 from a preliminary estimate of 51.3 and compared to June’s final 49.8. The latest figure signaled a marginal improvement in the performance of the manufacturing sector.
Donald Trump has claimed that the coronavirus situation in the US is improving. In an interview yesterday, US he said that the US is the “lowest in numerous countries” when it comes to the virus.
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