The dollar began the week under pressure from all corners as intensifying Sino-U.S. tensions added to worries that the coronavirus resurgence in United States could undermine the recovery in the world's biggest economy.
SINGAPORE - The dollar began the week under pressure from all corners as intensifying Sino-U.S. tensions added to worries that the coronavirus resurgence in United States could undermine the recovery in the world’s biggest economy.
The lack of support for the greenback, even as tit-for-tat consular closures marked the latest escalation in U.S.-China tensions, is a shift for the dollar which has been closely tracking global sentiment through the coronavirus crisis. “The common factor is the ongoing decline in U.S. yields,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney. They have fallen as the bond market prices a slow U.S. recovery, robbing the dollar of a dependable attraction.
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