Dollar continues recovery amid renewed US-China tensions
The US dollar rose on Friday, to continue its recovery for the second straight day from a two-week low, on investors' risk-aversion and demand for the US currency as the best alternative investments, amid the escalation of the US-China tensions over Hong Kong.
The dollar index rose 0.45% to 99.87 points, after opening at 99.82, and hit an intraday low of 99.39.
The greenback gained 0.3% yesterday, its second daily, first gain in four days, within recovery attempts from the 2-week low of 99.00 points.
A Chinese official said that the Chinese government plans for a new national security law in Hong Kong, which led US President Donald Trump to say that the US would respond "very strongly".
These developments in the US-China relations drove investors to focus on safe haven assets, led by the US dollar, which has been recently receiving safe-haven demand after the closure of the global economy due to the coronavirus pandemic.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1233
|
0.0114
|
1.0221%
|
|
|
|
|
1.2575
|
0.0161
|
1.2969%
|
|
|
|
Tadawul
|
7222.41
|
-62.82
|
0.86%
|
|
|
|
|
17.643
|
-0.436
|
2.414%
|
|
|
|
|
36.693
|
2.206
|
6.397%
|
|
|
|
|
39.79
|
0.22
|
0.56%
|
|
|
|
|
1699.095
|
-33.590
|
1.939%
|
|
