Dollar Inches Higher Against Rival Currencies – 11 August, 2020

A steep gain in U.S. treasury yields helped boost the dollar against the Japanese yen. The yen dipped to its lowest since July 24, falling 0.2% against the dollar to 106.71 per dollar. The New Zealand dollar slipped 0.5% to $0.6547, while the Australian dollar shed 0.3% to $0.7126, weighed down by falling gold prices. Against a basket of major currencies, the dollar was just below two year lows, falling 0.5% on the U.S.’s inability to control the coronavirus. The dollar last stood at 93.778 against the euro and $1.1729 against the pound which is climbing towards a five month high.