Dollar Gains Against Major Currencies – 21 May, 2020

The dollar was slightly higher as experts try to gauge the economic impact caused by the coronavirus. Against six major currencies, the dollar index was 0.2% higher to 99.385. Support from the dollar came from shaky U.S.-Sino grounds as President Trump continues to criticize China’s handling of the outbreak, as well as a shortage of paper currency that caused the greenback to reach a three year high in early March. The euro dipped by 0.21% to $1.0956 after rising 1.6% over the last four sessions, helped by a 500 billion euro recovery plan proposed by France and Germany. Against the dollar, the pound was flat as investors await a Bank of England interest rate plan update.