Fri, 29 Jan 2021

U.S. dollar sold off as equity markets recover

Lola Evans
27 Mar 2020, 08:04 GMT+10

NEW YORK, New York - The U.,S. dollar was continuing its recent correction on Friday, losing ground to the major currencies across the board.

Demand for the greenback has soured this week as stocks have regained their composure with massive gains over the past three trading days.

The euro, which had fallen to 1.0600 earlier in the week, finished the week at 1.1149, an astoning recovery.

The British pound gained nearly ten cents from the start of the week, to finish it at 1.2453, a good two cents above its Thursday close.

The Japanese yen strengthened to 107.99 Friday. The Swiss franc climbed to 0.9502.

The Canadian dollar zoomed up to 1.3983, while the Australian and New Zealand dollars continued their rapid recovery to 0.6166 and 0.6036 respectively by the New York close on Friday.

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