Dollar slips as concerns mount over potential second wave; Euro also in focus

Dollar slips as concerns mount over potential second wave; Euro also in focus

The Dollar retreated from gains in Europe earlier on Friday. However, losses were not far from its two-week high as worries of a second wave mounted with increasing new COVID-19 cases worldwide.

The Dollar index slipped 0.1% to 97.352 at 3:10 AM ET (0710 GMT). The index had previously reached a daily high of 97.495, the highest since the start of June.

Against the Japanese Yen, the Dollar dipped by 0.1% to ¥106.91, while the Australian Dollar fell by 0.2% to $0.6867.

The Euro traded higher by 0.1% to $1.1212, a little above Thursday’s two-week low of $1.1186.

The EUR/USD pair fell by 0.4%, though up by 2.1% for June, this week as doubts mounted on the political viability of the EU’s stimulus plan.

The British Pound Sterling gained 0.2% against the Dollar to $1.2452. The gains were attributed to the 12% jump in Britain’s retail sales for May, which had recovered from a record plunge of 18% in April.

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