US Dollar holds gains as COVID-19 surge boosts safe-haven demand

The dollar held gains against a basket of major currencies on Thursday as escalating coronavirus cases in Europe stoked fears across markets that fresh lockdowns would further hit the already fragile economic recovery. The safe-haven greenback steadied against a basket of six currencies at 93.41, taking a pause after its 0.3% gains in early trade. Concerns of further damage to the economic recovery grew as French President Emmanuel Macron and German Chancellor Angela Merkel ordered their countries back into lockdown on Wednesday, as a massive second wave of coronavirus cases threatened to overwhelm Europe. The euro … (full story)

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