Dollar continues recovery in holiday-thin trade

The US dollar rose Friday, to extend its recovery from a 1-week low for the second straight day, on strong demand as the best alternative investment, amid growing concerns over a record surge in new coronavirus cases in the US, and warnings that the virus may have mutated to become more infectious than before, while this comes amid calm trading due to the US Independence Day holiday.

The dollar index rose 0.1% to 97.36 points, after opening at 97.22, and hit a session-low of 97.15.

The greenback has gained 0.1% yesterday, its first daily gain in 4 days, within its recovery attempts from a 1-week low of 96.81 points.

Reuters reported the number of new coronavirus cases in the US soared to 55,000 on Thursday, in the highest rate since the outbreak started.

The White House's infectious disease expert, Dr. Anthony Fauci, has warned that the virus may have mutated to become more infectious than before.

However, trading today is limited due to the closure of the US market in observance of the Independence Day holiday.