U.S. Job Data Has Investors Eyes Peeled, COVID-19 Cases Skyrocket – July, 2020

Upbeat U.S. and European economic data was not enough to keep the dollar steady as the country continues to fight heavily increasing positive coronavirus cases. The greenback dipped 0.4% against major currencies, on track for its worst week in a month ahead of job data to be released this week. The New Zealand dollar was up to a one week high, gaining 0.2% to $0.6492. Re-opening still remains one of the biggest questions in the U.S., though with Wednesday seeing the single biggest daily increase in cases and a 50,000 new case spike, that timeline has been pushed back by many states. The yen last traded at 107.53, while the euro was steady at $1.1257. Sterling managed to gain 2%, rising above $1.25, its highest in a week, before settling at $1.2483.