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Sentiment Affects USD

Adel 9 July, 2020 12:17 pm Market Update

US dollar weakened during early European trading on Thursday, as traders looking towards risky currencies amid expectations of strong economic growth, which reduced the demand for USD as a safe-haven currency.

Concerns remain over the outbreak of Covid-19, which keeps the currency pairs in a narrow trading range. However, the US dollar is gradually tracking its losses, with risk sentiment heading towards long-term economic growth forecasts.

US dollar index, down 0.1% to 96.252, falling 1% over the past week.

 EUR/USD rose 0.2% to 1.1356, while USD/JPY settled at 107.27.

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