EUR/USD at two-week lows

2020-04-06 08:47:41 GMT (Economies.com)
EUR/USD at two-week lows

EUR/USD fell in European trade on track for the sixth straight decline to near two-week lows, as the dollar remains a favorite haven currency. 

 

The pair lost 0.1% to 1.0798, after closing down 0.5% on Friday, marking two-week lows at 1.0772. 

 

The pair lost 3% last week, the third weekly loss in a month as dollar remained a magnet for haven seekers amid the global fallout from the Covid 19 pandemic. 

 

The dollar index rose 0.1% on Monday on track for the fourth profit in a row. 

 

On Friday, US data showed payrolls fell by the steepest rate since 2009 in a clear sign of huge collapse in economic activity due to social distancing measures. 

 

The US economy alongside the global economy will enter a deep recession due to the Covid 19 pandemic and global consternation, with the crisis expected to extend for months. 

 

 
 
 
  Symbol Last Change Chg.%
1.2075
-0.0075
0.6160%
1.3585
0.0110
0.8197%
Tadawul
8898.68
-12.91
0.14%
24.758
0.061
0.247%
52.130
0.520
1.008%
54.87
-1.55
2.75%
1827.110
-7.945
0.433%
 
 
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