Fearing A Virus Resurgence, Investors Run to The Dollar And Yen – 17 June, 2020

The safe haven dollar and yen both gained on new waves of concern over the rise in coronavirus cases. After gaining 0.2% the previous session, the dollar was last trading at $1.1234 per euro, while it was up 0.3% to 0.9496 against the Swiss franc. Against the dollar, the yen was slightly higher at 106.79, while the pound dipped to $1.2533 and last traded at 89.66 against the euro. A larger than expected Australian job cut in May caused the Aussie to dip 0.44% to $0.6854, a common theme across the world as the pandemic broke out. The New Zealand dollar fell to 0.6432 after data showed the extent of the damage the pandemic has caused on the economy. In the U.S., many states have seen a recent surge in cases as lockdown restrictions have been lifted. The onshore yuan was steady at 7.0883 per dollar as an increase in cases caused China to reinforce lockdowns in some cities.