Home / Market Update / Sentiment Affects USD

Sentiment Affects USD

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.

Check Also

Pound Surges as US-China Tariff Tensions Weaken Dollar

The Pound Sterling staged a robust recovery against the US Dollar on Thursday, climbing above …