Commodity News
HeadLine : Dollar Up, Boosted by Ever-Rising COVID-19 Numbers and Souring U.S-China Relations
Date : Jul 17 2020
The dollar was up on Friday morning in Asia, with investors turning to the safe-haven asset as the number of COVID-19 cases continue to be smash records. The U.S. recorded at least 75,000 cases over a 24-hour period on Thursday, and Brazil surpassed the 2 million mark the same day. The surging number of cases prompted investor fears over the global economic recovery, with more states re-implementing lockdowns. With some U.S. COVID-19 stimulus measures due to expire at the end of July, the U.S. Congress is scheduled to debate further measures the following week. Investors will be watching to see how what measures will be passed to prop up the world's largest economy against COVID-19's impact. The U.S. Dollar Index that tracks the greenback against a basket of other currencies was up 0.01% to 96.278. The past week has not been a good one for U.S.-China relations, with the U.S. disputing Chinese claims in the South China Sea and Trump removing Hong Kong’s special trade status as well as approving initial sanctions against Chinese entities involved in enacting Hong Kong's national security laws.

Source : Investing
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