|Day's Range||7 - 7.024|
|52 Week Range||6.8398 - 7.1839|
Also, USD/CNY rose 0.1% to 7.0207, with the dollar rebounding after the yuan hit its highest level in nearly four months after the sharp gains seen in the Chinese share markets.
The dollar edged lower in early European trade Friday, with volumes hit by the U.S. holiday and traders weighing the conflicting influences of positive economic data and the increasing number of coronavirus cases. Economic data released earlier Friday pointed to a brisk pickup in the Chinese service sector, with the Caixin Services Purchasing Managers Index coming in at 58.4 in June, the highest reading in two months. “Fed money printing has now secured what seems to be a stable negative correlation between risk assets and the dollar,” said analysts at ING, in a research note.
NANJING, China, June 26, 2020 /CNW/ -- Nanjing Jiangbei New Area, a state-level new area in East China's Jiangsu Province, celebrated its fifth anniversary of establishment on Wednesday. Since its establishment was officially approved by China's State Council in June 2015, Jiangbei New Area has been actively engaged in the development of the Yangtze River Economic Belt and the integrated development of the Yangtze River Delta. Jiangbei New Area has constantly improved business environment by reforming its administrative examination and approval system.
A fall in the number of new COVID-19 cases from last week’s spike and easing tensions between the U.S and China deliver early positives…
The dollar has sold off in early European trade Wednesday, with riskier assets in demand as investors look for more fiscal stimulus amid signs of a global economic recovery. At 3:05 AM ET (0705 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 97.362, down 0.3%, falling to levels last seen in the middle of March. EUR/USD traded 0.5% higher at 1.1220, trading above 1.12 for the first time since mid March, on hopes policymakers will continue to support the euro zone, despite the German government's failure to agree on a second big stimulus package Tuesday.
Investing.com - The U.S. dollar pushed higher in early European trade Wednesday amid doubts over a potential vaccine for the Covid-19 virus, but it’s been the euro which has shone the brightest as the Franco-German proposal for a common EU recovery fund gains traction.
The dollar was down on Tuesday morning in Asia after U.S. drugmaker Moderna (NASDAQ:MRNA) announced “positive” results for its potential COVID-19 vaccine on Monday. The U.S. Dollar Index that tracks the greenback against a basket of other currencies slid 0.01% to 99.672 by 12:14 AM ET (5:14 AM GMT). Meanwhile, U.S. Federal Reserve Chair Jerome Powell is scheduled to speak on the state of U.S. economic recovery from the virus on Tuesday, where he is expected to press for future fiscal support.
At 2:40 AM ET (0645 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 100.362, down 0.1%, having earlier Monday reached a three-week high. EUR/USD rose 0.1% to 1.0823.