The greenback is likely to continue to climb higher in the short term as Covid-19 rattles sentiment in Europe. — Reuters pic
The greenback is likely to continue to grind higher in the short term as the coronavirus rattles sentiment in Europe, but uncertainty about this year's US presidential election means the dollar could be prone to more volatile swings. The US dollar was quoted at $1.1708 per euro today in Asia, close to a two-month low hit in the previous trading session.
The US economy risks a longer, slower recovery and “recessionary dynamics” if Congress fails to pass an additional fiscal stimulus package, Chicago Federal Reserve President Charles Evans said yesterday. Sentiment for the euro has slowly weakened as investors grow increasingly worried about surging coronavirus infections in countries like France and Spain, raising the risk of lockdowns.
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