Euro on track for weekly loss on risk aversion

2020-10-16 08:45:43 GMT (Economies.com)
Euro on track for weekly loss on risk aversion

Euro rose in European trade against dollar off two-week lows while still heading for a weekly loss as investors shun riskier currencies. 

 

EUR/USD rose 0.1% to 1.1720, after closing down 0.3% yesterday, marking two-week lows at 1.1688.

 

The common currency is now over 0.9% down this week against dollar, on track for the first weekly loss in three, and the second worst in the last month. 

 

Haven demand rose on dollar again as hopes for US stimulus faded before elections, while a second coronavirus wave takes hold in Europe and the US. 

 

US Treasury Secretary Steven Mnuchin almost ruled out expanding stimulus before elections due to disagreement with Democrats on priorities. 

 

Governments in Europe have taken new restrictions to arrest the spread of Covid, threatening recent economic recovery. 

 
 
 
  Symbol Last Change Chg.%
1.1833
0.0054
0.4614%
1.3026
0.0039
0.2995%
Tadawul
8154.59
-312.66
3.69%
24.323
-0.450
1.817%
39.139
-1.804
4.405%
41.77
-0.87
2.04%
1898.260
-13.755
0.719%
 
 
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