Although the surge in new coronavirus cases and fears over the pandemic affect the economic recovery, the US dollar is moving up.
Experts at Danske Bank noted that it is necessary to monitor the number of hospitalizations because new restrictions are likely to be imposed.
In addition to a spike in new infections, a problem of unemployment still exists. It is expected that this week the number of initial jobless claims will total 1.3 million, and the number of applications from those who continue to receive unemployment benefits will drop to 19.9 million. These numbers are already progressing, but US unemployment is still at its peak since the Second World War.
These factors directly affect the value of the global currencies. Thus, the US dollar index was up by 0.2% to reach 97.293 against other major currencies.
The euro fell against the greenback by 0.1% to 1.1239.
The pound retreated against the US dollar by 0.1% to 1.2410. The American currency rose against the Japanese yen by 0.1% to 107.15 as well as the Canadian dollar by 0.1% to 1.3649.
The Turkish lira is trading at 6.8587 against the US dollar, up by 0.1%, not too far from the all-time high of 7.27 reached in early May.
