Open Demo Account
Home / Market Update / Sentiment Affects USD

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.

Check Also

Rising U.S. Inflation Expectations Shake EUR/USD as Central Bank Decisions Loom

The EUR/USD currency pair is facing a notable decline as the U.S. dollar strengthens following …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends