Dollar Continues To Strengthen As Virus Spreads – 2 April, 2020

A 21% skyrocket in oil prices helped boost the dollar after President Trump claimed he spoke with Saudi and Russian officials and they agreed to work together to come up with the next steps for OPEC cuts. The dollar was up 1.8% against a basket of currencies to 100.210 and last stood at $1.0838 per euro, up 2.7% for the week. The greenback last traded at %0.6054 per Australian dollar and $0.5903 per New Zealand dollar. Investors have been flocking to the safe-haven dollar as the spread of the coronavirus continues to wreck havoc on global economies, leaving over one million people sick and many more out of jobs.