Euro sharpens decline to week lows

Euro fell in European trade on track for the fifth profit in a row against dollar, marking week lows and heading for the third weekly loss in a month on the global coronavirus panic. 

EUR/USD shed 0.6% to 1.0787, after closing down 1% yesterday, the fourth decline in a row. 

The pair tumbled 3.1% last week as investors bought up the dollar for safety. 

The dollar index added 0.5% on Friday on track for the third daily profit against a basket of major rivals. 

US data showed considerable economic damage due to Covid 19, with unemployment claims hitting fresh record highs for the second week in a row. 

Analysts expect a deep global recession that surpasses the worst of the financial crisis in 2008-2009. 

Covid 19 global infections passed the million with the death toll reaching 52,000.