Pound Tumbles, Investors Move to Dollar – 10 September, 2020

Investors stayed close to safer assets due to uncertainty in equity markets, helping the dollar gain as the currency heads for its second straight week of gains. Against a basket of currencies, the dollar slightly lower, though it has gained back roughly 1.7% from the 28 month low reached at the beginning of the month. The Australian dollar was 0.3% higher at $0.7275, and the kiwi was 0.1% higher at $0.6660. The yen was stable for the week at 106.14 per dollar. Brexit concerns meant the pound fell to a six week low of $1.2773, losing 3.5% to the dollar and pound where it last sat at 92.32 pence.