Euro set for seventh day of gains, dollar loses to riskier assets

Euro set for seventh day of gains, dollar loses to riskier assets

03 Jun 2020 03:05 PM
 

The euro topped an 11-week high on Wednesday, on track for a seven-day winning streak, with the dollar falling against most currencies as the prospects of more stimulus and hopes for economic recovery emboldened investors to buy riskier assets.

The U.S. dollar also fell against the British pound, the Norwegian and Swedish crowns, and the Canadian dollar as mass protests against racism across the United States weighed.

An index following the dollar against six major currencies fell to nearly a three-month low of 97.32.

Generally, participants preferred to bet on a global economic recovery as governments ease lockdown measures, despite the threat that unrest in the United States could halt progress.