COVID Surges Boost Dollar – 28 October, 2020

Rising positive Covid-19 cases has helped the dollar hold gains against a basket of major currencies as Europe prepares to reinforce lockdown rules in an attempt to contain the spread. Against six currencies, the greenback was up 0.3% to 93.41. Overnight, the euro slid to a one-week low at $1.1718 before settling at $1.1753. The Japanese yen was last trading at 122.63 against the euro, hitting its highest levels in three months overnight. Against the yen, the dollar steadied at 104.33 yen after dropping to a one month low the previous session. The Australian dollar rose slightly to $0.7038 overnight after a near one-week low overnight at $0.7063. The New Zealand dollar was up 0.27% to 0.6652.