US dollar gains on persistent rise through coronavirus cases.
On Thursday, the midday trading for the first time in six days as investors grew wary of the ongoing surge in coronavirus outbreaks that have caused localized shutdowns throughout the world and broad optimism about the new COVID-19 vaccines faded a little.
The death toll from COVID-19 in the United States surpassed 250,000 on Wednesday, when the country’s most extensive public school system, New York City’s, ceased in-person education due to increased infection rates. An index that gauges the dollar against a national currency was up 0.1 per cent at 92.576 in mid-morning trading.
“The dollar’s gain is a carryover from the New York public school closures and the S & P 500 falling 1% to the close, creating a risk-off tone,” Erik Bregar, head of FX strategy at Exchange Bank of Canada in Toronto, explained.
The dollar rose 0.3 per cent against the Swedish crown to 8.6311, while the Australian dollar declined 0.4 per cent to US$0.7273.
In other developments, the pound fell 0.3 per cent against the dollar to $1.3226 after The Times reported that European leaders would press the European Commission to publish no-deal Brexit measures as the year-end deadline approaches. Bitcoin increased 1.9 per cent to $18,126 on Thursday, not far from its three-year peak of nearly $20,000.