Economic Uncertainties Weigh on Dollar – 18 August, 2020

Uncertainties about economic recovery and potential fiscal stimulus packages dragged the dollar to a 27-month low which it could not shake, causing the currency to drop against major competitors. Against major currencies, the dollar last stood at 92.179 against a basket of major currencies. The pound was last quoted at $1.3255, and after  strengthening to its highest level since May 2018, the euro last traded at $1.1949. Against the yen, the dollar last stood at 105.17 yen, while the Australian dollar traded near $0.7255 and the New Zealand dollar traded at $0.6611.