US dollar gains, Aussie and euro slip

Business | 21 Apr 2021 4:34 pm

The U.S. dollar firmed on Wednesday, rising from a seven-week low hit overnight, as broad-based weakness in stock markets triggered by a resurgence of infections in countries from India to Japan fuelled renewed appetite for the greenback, Reuters reports.

The safety bid also supported the Swiss franc and the Japanese yen.

The dollar index, which tracks the U.S. currency against six major peers, was up 0.14 percent at 91.347 in early London trading after slumping as low as 90.856 on Tuesday for the first time since March 3. It has declined by 2.4 percent so far this month.

The euro was down by 0.25 percent at US$1.2000, after touching a seven-week high of US$1.2079 overnight.

The Australian dollar, a barometer for risk appetite, nursed losses at US$0.7717 after weakening 0.4 percent overnight.


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