LONDON, June 17 — The dollar was little changed today after US retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar. US Federal Reserve Chairman Jerome Powell doused some of the market’s optimism...
Against a basket of other currencies, the dollar edged 0.1 per cent lower to 96.89. The index has bottomed out after reaching a three-month low last week, but the broad outlook remains pessimistic. — Reuters pic
Discouraging news over the past 24 hours — record-high coronavirus infections in six US states, clashes between Indian and Chinese troops in the western Himalayas and new coronavirus cases in Beijing — also undermined sentiment. The Fed’s Powell said that a full US economic recovery will not occur until the American people are sure the novel coronavirus epidemic has been brought under control.
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