Stock Market

Greenback Continues Downward Spiral

Greenback continues downward spiral

The safe-haven currency dollar once again rallied downward on Friday in the early trades in Asia. It happened despite the fact investors are looking forward to better and sophisticated prospects following the rising numbers of the coronavirus pandemic.

The continuous passing the buck on the stimulus package of COVID-19 by the US Congress before the November 3 led to the fall of the dollar.

The US dollar index plunged to 93.832, a slippage of 0.03 per cent by 2:30 AM GMT. Meanwhile, USD/JPY witnessed a loss of 0.17 per cent and slipped to 105.27. Yen recorded an increase of 0.2 per cent. The USD/CNY surged to 6.7420, which is 0.01 per cent.

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