US dollar dips as risk-off mood eases

US dollar dips as risk-off mood eases

The US dollar weakened in late trading on Monday, following two consecutive session’s noticeable gains, as market participants’ risk-off sentiment eased.

The dollar index, which measures the greenback against six major peers, fell 0.61 per cent at 96.7090.

In late New York trading, the euro increased to $1.1315 from $1.1234 in the previous session, and the British pound increased to $1.2582 from $1.2492 in the previous session. The Australian dollar rose to $0.6915 from $0.6843, Xinhua reported.

The US dollar bought 107.32 Japanese yen, lower than 107.44 Japanese yen of the previous session. The US dollar was down to 0.9481 Swiss franc from 0.9542 Swiss franc, and it fell to 1.3561 Canadian dollars from 1.3612 Canadian dollars.

The greenback climbed noticeably both on Thursday and Friday, as traders searched for safe haven amid concerns over a resurgence in COVID-19 cases across the United States.

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