Dollar turns higher on renewed Covid-19 concerns

The US dollar rose against most of its peers on Monday, thanks to strong safe-haven demand amid a broad sell-off in stock and commodity markets due to renewed coronavirus concerns.

World Health Organization data stated that coronavirus infections have increased in the USs, Europe and Asia due to the new Delta strain, which has renewed fears of the pandemic spreading out of control.

The US government revealed that the average infection during the past seven days until Friday was about 30,000 cases, which is higher than June's average of 8,000 cases.

The dollar index rose against a basket of major currencies by 0.2% to 92.8 points as of 17:52 GMT, after hitting a high of 93.04 points and a low of 92.6 points.