USD Maintains its Gains as Worries Dominate The Market

USD keep its gains on Wednesday as headlines of an increase in Covid-19 cases in US and lockdown measures in some countries provided the demand for the greenback.

Federal Reserve officials have expressed fears that economic growth will be affected by the continued rise of Covid-19 cases in the country with the end of the stimulus measures.

The Chinese Yuan fell slightly against the dollar after a two-day rally and the rest of the Asian currencies were trading in limited ranges as news of a return to the lockdowns worries investors.

The Australian dollar was little changed, as it remained trading at 0.6939 against the US dollar, after falling by 0.4% on Tuesday. The sentiment around the Australian currency affected by the return of lockdown in Melbourne.