Euro on track for largest weekly loss in six months

Euro rose in European trade against dollar for another session away from two month lows, while still on track for the largest weekly loss in six months. 

 

EUR/USD rose 0.15% To 1.1685, after closing up 0.1% yesterday, the first profit in five days away from two month lows at 1.1626. 

 

The dollar index fell 0.1% on Friday for another session on profit-taking away from two-month highs at 94.59. 

 

The greenback was hurt by weak unemployment claims data in the US, which showed economic recovery losing steam as Covid 19 cases rise in the US.

 

Euro lost 1.3% so far this week, the heftiest loss since March, as risk appetite tumbles and investors prefer safer bets with the dollar. 

 

It's estimated the new economic restrictions in Europe will lead to another services recession during September.


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Posted By laraparker : 25 September, 2020
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