The dollar fell 0.47 per cent to ¥110.69 in Asia today. — AFP pic
The Australian and New Zealand dollars, both of which are closely liked to the global commodity trade, fell against their US counterpart as traders avoided taking on excessive risk. “Bad numbers are expected and priced in to a certain extent, but there are people who think things will get even worse. In the end this may support the dollar as investors choose to bring their money home.”Against the Swiss franc, the dollar eased slightly to 0.9752.The pound's losses accelerated early in Asian trade after the British government said the total number of coronavirus cases in the UK rose to 9,529 yesterday from 8,077 the previous day.
Draconian restrictions on personal movement aimed at slowing the spread of the coronavirus are widely expected to cause a global recession. The euro rose 0.2 per cent to US$1.0901 in Asia today. The common currency held on to gains against the Swiss franc, trading at 1.0638.
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