Job Data Anticipation Causes Dollar To Dip – 6 August, 2020

A lack of consensus in Washington over the next U.S. stimulus and the rise of positive coronavirus cases left the dollar nursing losses against major currencies. Against the euro, the dollar was just above a two year low at $1.1868. The dollar was near a five year low against the Swiss franc at 0.9109, and just above a four month low against the yen at 105.57 yen. The British pound last stood at $1.3134, its strongest since March. Non-farm payrolls due later this week are expected to show a slowdown in job creation for the month of July caused by the increase of the spread of COVID-19. Against a basket of major currencies, the dollar index was just above a two year low at 92.864. The Australian dollar is just below a 1 1/2 year high at #0.72223, while the New Zealand dollar is at its strongest since the start of the year at $0.6681.