Wed, 28 Oct 2020

U.S. dollar gains amid risk-averse sentiment

24 Sep 2020, 05:51 GMT+10

NEW YORK, Sept. 23 (Xinhua) -- The U.S. dollar strengthened in late trading on Wednesday as safe-haven demand increased amid wild moves on financial markets.

The dollar index, which measures the greenback against six major peers, increased 0.43 percent at 94.3914.

In late New York trading, the euro decreased to 1.1656 U.S. dollars from 1.1704 dollars in the previous session, and the British pound was down to 1.2715 dollars from 1.2733 U.S. dollars in the previous session. The Australian dollar was down to 0.7076 U.S. dollar from 0.7166 dollar.

The U.S. dollar bought 105.41 Japanese yen, higher than 104.92 Japanese yen of the previous session. The U.S. dollar was up to 0.9241 Swiss franc from 0.9198 Swiss franc, and it increased to 1.3378 Canadian dollars from 1.3309 Canadian dollars.

The moves came as heavy selling continued on Wall Street with the Dow down more than 500 points in afternoon session on Wednesday.

Market participants also worried about uncertainty from the pandemic.

More than 6.9 million confirmed COVID-19 cases have been reported in the United States with deaths surpassing 201,000 as of Wednesday afternoon, according to a tally by Johns Hopkins University.

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