Tue, 14 Jul 2020

U.S. dollar slips amid rallying euro

29 May 2020, 06:51 GMT+10

NEW YORK, May 28 (Xinhua) -- The U.S. dollar weakened in late trading on Thursday amid a strong momentum in the euro.

The dollar index, which measures the greenback against six major peers, was down 0.69 percent at 98.3887.

The euro rallied after the European Commission on Wednesday proposed a recovery fund to help the world's largest trading bloc recover from a coronavirus-prompted recession.

In late New York trading, the euro increased to 1.1089 U.S. dollars from 1.0989 dollars in the previous session, and the British pound increased to 1.2340 dollars from 1.2253 U.S. dollars in the previous session. The Australian dollar was up to 0.6658 U.S. dollar from 0.6605 dollar.

The U.S. dollar bought 107.64 Japanese yen, lower than 107.70 Japanese yen of the previous session. The U.S. dollar decreased to 0.9634 Swiss franc from 0.9688 Swiss franc, and it decreased to 1.3760 Canadian dollars from 1.3779 Canadian dollars.

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