The US dollar fell during Wednesday's trading, in light of investors' focus on the escalating Corona virus crisis in the country, which is causing pressure on the economy.

Johns Hopkins University reported that new cases of Covid-19 virus are close to 3 million in the US, and announced today the largest daily increase since the start of the crisis, with 60,000 confirmed cases.

Coronavirus cases have surpassed 11 million globally, with a death toll of 545,000 victims.

Officials in different US states called for another lockdown restrictions on millions of US citizens to contain the virus.

But the White House stated that it would be a mistake to impose another lockdown due to its severe impact on the economy.

The dollar index fell against a basket of currencies by 0.4% to 96.4 points as of 19:12 GMT, after it hit a high of 97.05 and a low of 96.4.

The Canadian dollar rose Wednesday, despite fears over the return of the lockdown restrictions in many countries around due to the the coronavirus crisis.

Johns Hopkins University reported that cases of Covid-19 virus have surpassed 11 million globally, with a death toll of 545,000 victims.

In the US, coronavirus cases are close to 3 million, and the authorities announced today the largest daily increase since the start of the crisis, with 60,000 confirmed cases.

However, US officials stated that it would be a mistake to lockdown the economy and commercial activities again in the US.

As of 17:02 GMT, CAD/USD rose 0.6% to 0.7394, after hitting a high of 0.7396 and a low of 0.734.

Oil prices rose on Wednesday, to keep gains despite the unexpected build in US inventories according to the EIA's official data.

The US Energy Information Administration (EIA) showed today that the US crude inventories rose 5.7 million barrels during the past week, beating forecasts of a drop by 3.7 million barrels.

While the American Petroleum Institute (API) showed yesterday in preliminary data that inventories rose 2 million barrels during same period.

The dollar index fell against a basket of currencies by 0.4% to 96.4 points as of 18:03 GMT, after it hit a high of 97.05 and a low of 96.4.

As of 18:00 GMT, West Texas Intermediate crude rose 0.6% to $40.8 a barrel, after it hit an intraday high of $41.08 and a low of $40.3.

Brent rose 0.5% to $43.2 a barrel, with a high of $43.4 and a low of $42.7.

The US Energy Information Administration (EIA) showed today that the US crude inventories rose 5.7 million barrels to reach a total of 539.2 million barrels during the past week, beating forecasts of a drop by 3.7 million barrels.

The gasoline stockpiles fell 4.8 million barrels to a total of 251.7 million, and distillate stockpiles rose 3.1 million barrels to a total of 177.3 million.

While the American Petroleum Institute (API) showed yesterday in preliminary data that inventories rose 2 million barrels during same period.