Dollar Retreats as Investors Risk Sentiment Up By


© Reuters.

By Gina Lee – The U.S. dollar was down on Friday from its week-long high in the previous session with a boost to investors’ risk appetite.

The  that tracks the greenback against a basket of other currencies slipped 0.25% to 99.862 by 11:34 PM ET (4:34 AM GMT), slipping below the $100 mark.

Investors retreated from the dollar, traditionally viewed as a safe haven, as U.S. President Donald Trump hinted at the reopening of the U.S. economy overnight as he briefed U.S. governors on guidelines.

Risk sentiment also received a boost from Gilead Sciences Inc (NASDAQ:) announcing overnight that clinical trials of its antiviral drug remdesivir showed promising results in treating the COVID-19 virus.

The  pair was down 0.22% to 107.71.

The  pair gained 0.05% to 7.0816, gaining back its earlier losses as China reported a 6.8% contraction year-on-year in its in the first quarter.

Analyst forecasts prepared by predicted a 6.5% contraction.  in March also fell 1.1% year-on-year, less than the predicted 7.3%.

The  pair gained 0.48% to 0.6359 and the pair gained 0.69% to 0.601with the improved risk sentiment. The Antipodean currencies are closely linked to commodities, and therefore sensitive to risk sentiment.

The  pair gained 0.38% to 1.2502. 

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