The dollar eased from a three-week high on Friday but looked set for a modest weekly gain as rising Sino-U.S. tensions and worries about a second wave of coronavirus infections rattled investors.
FILE PHOTO: A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Picture taken August 28, 2018. REUTERS/Marcos Brindicci/File Photo
“The market is sort of in a wait-and-see mode at the moment, waiting to see in particular whether U.S.-China trade tensions really do escalate,” said Rodrigo Catril, senior foreign exchange analyst at National Australia Bank.was steady at 107.18 per dollar, but has ground lower this week as U.S. Federal Reserve officials talked down the prospect of negative rates, also buoying the greenback.
“Markets now turn to slower factors that will either lead global economies out of hibernation or condemn risk markets to lose altitude.”Gradual re-opening of the world’s economies has come with a dawning of how deeply the pandemic has damaged supply chains, labour markets and global demand. And increasing tension between the United States and China is the latest potential spanner in the works of global growth.
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