Currencies Overview: US Dollar Remains Near a 4-Month high Against The Euro With The Prospects for Recovery Mixed

The dollar rose as European markets opened Thursday (March 25th) after reaching a four-month high against the euro during the Asian session, with market participants focusing on the divergent recovery prospects in the United States and Europe and a dwindling risk appetite.

Global stock markets fell to their lowest levels in two weeks after the sale of shares of the Chinese technology sector due to fears of de-listing from US stock exchanges.

Concerns about lockdown measures in Europe also weighed on the markets. German Chancellor Angela Merkel’s decision to cancel plans for the Easter lockdown has resulted in little improvement in sentiment.

The dollar index was up less than 0.1% during the day, to 92.658, after hitting its highest level since November 2020 at 92.697 during the night.

The euro fell 0.1% against the US currency, to $1.1807.

The Swiss franc was down about 0.1 percent against the euro, at 1.1068.

The Australian and New Zealand dollars rose about 0.3% against the US dollar, compensating for some of the losses they incurred during the past two sessions. As for Bitcoin, it was almost stable at about $ 52,321.31.

The cryptocurrency had briefly exceeded $ 57,000 during the previous session, after Elon Musk, president of Tesla, said that customers can now buy its electric cars with that digital currency.