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U.S. dollar climbs amid concerns over COVID-19 crisis

Xinhua News,NEW YORK
2020-03-20 03:41

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The U.S. dollar extended gains against its major rivals on Thursday as concerns over potential coronavirus impact boosted appetite for the currency.

The dollar index, which measures the greenback against six major peers, rose 1.57 percent at 102.7468 in late trading.

In late New York trading, the euro fell to 1.0672 U.S. dollars from 1.0872 dollars in the previous session, and the British pound was down to 1.1525 dollars from 1.1596 U.S. dollars in the previous session. The Australian dollar was down to 0.5766 U.S. dollar from 0.5781 dollar.

The U.S. dollar bought 110.63 Japanese yen, higher than 107.95 Japanese yen of the previous session. The U.S. dollar rose to 0.9864 Swiss franc from 0.9694 Swiss franc, and it was down to 1.4514 Canadian dollars from 1.4559 Canadian dollars.

"Due to concerns about a global recession and demand for USD liquidity, the dollar has been rising rapidly against all currencies whereas the stock markets and the oil price continue to collapse," Antje Praefcke, analyst at Commerzbank Research, said in a note on Thursday.
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