U.S. COVID-19 Cases Rise, Dollar Gains – 24 June, 2020

A steady rise in coronavirus cases int he U.S. has led investors to run to the safe-haven dollar over fears of a drawn out economic recovery. The dollar index last stood at 97.360, while the greenback last traded at 107.17 per yen, rising 0.5% in the overnight session. The euro slowed down after a one week high of $1.1348 to a steady $1.1221, with the currency on track for a 0.4% weekly gain, and the Aussie last traded at $0.6891. The pound dipped from the $1.2541 hit earlier this week to $1.2422. COVID-19 cases have been on the rise in some U.S. states, with Texas halting re-opening as cases hit an all time high and many companies laying off employees despite some states beginning to reopen.