Friday, 25 Sep 2020 04:35 PM MYT
The dollar is on track for it best week since early April, driven by risk aversion that made traders quit their dollar shorts as the outlook for the global economic recovery darkened with a second wave of Covid-19 cases in Europe. The New Zealand dollar rose to 0.6584, up 0.6 per cent since New York’s close but still down 2.6 per cent on the week.
“While it is tempting to call for the end of the USD run as the risk environment appears to be stabilizing, caution is warranted,” they said. EU health officials warned on Thursday of “twindemic”, as a surge in Covid-19 cases in Europe risks combining with flu infections.
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