Dollar falls as focus shifts to recovery prospects

Dollar falls as focus shifts to recovery prospects

03 Jun 2020 09:15 AM
 

The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened investors to step up holdings of riskier assets.

The Australian dollar hit a five-month high against the dollar, as funds headed toward economies that are seen to be recovering the fastest from the coronavirus pandemic.

China's yuan is also in focus before the release of services sector data from the world's second-largest economy, which could bolster expectations for economic recovery.

The greenback also fell against the British pound and nursed losses against the safe-haven Swiss franc as investors pondered mass protests against racism spreading across the United States.