Dollar Dips Against Major Currencies – 20 May, 2020

Investors looked towards riskier currencies as mindsets shifted towards an optimistic outlook and recovery once the coronavirus outbreak is under control. The Australian dollar was up to a ten week high of $0.6616, while the New Zealand dollar reached a ten day high of $0.6157, with speculation that both currencies will continue to gain. The dollar inched higher against the Japanese yen, last trading at 107.68. The euro was just under a three week high at $1.0975, while the Chinese yuan was at a one week high of 7.1067 in offshore trade.