U.S. dollar falls amid rising risk aversion

Xinhua News Agency

NEW YORK – The U.S. dollar recorded a deep decrease in late trading on Friday (Nov. 26) as demand for safe-haven shot up.

The dollar index, which measures the greenback against six major peers, decreased 0.75% at 96.0468 in late trading.

The discovery of a new COVID-19 variant in South Africa sent jitters across global markets on Friday.

Surging demand for safe haven drove 10-year Treasury bond yield to 1.479% on Friday, down 16.2 basis points from the previous trading session.

Commodity-based currencies were in a free fall on Friday morning as the price of commodities plunged with global equities, said a note by foreign exchange and international payment solutions provider Tempus, Inc.

In late New York trading, the euro was up to 1.1313 dollars from 1.1209 dollars in the previous session, and the British pound was up to 1.3335 dollars from 1.3321 U.S. dollars in the previous session. The Australian dollar decreased to 0.7118 dollar from 0.7185 dollar.

The U.S. dollar bought 113.13 Japanese yen, lower than 115.36 Japanese yen of the previous session. The U.S. dollar decreased to 0.9217 Swiss franc from 0.9357 Swiss franc, and it increased to 1.2783 Canadian dollars from 1.2648 Canadian dollars. (Xinhua) – bny

 

Popular

Gatchalian-led Senate overhauls committee heads under new majority bloc

By Brian Campued As the Senate convenes for its special session on Wednesday, a new set of committee chairships and memberships have also been elected...

DSWD ready to augment food pack support to quake-affected communities in Mindanao

By Brian Campued Consistent with the earlier directive of President Ferdinand R. Marcos Jr. to ensure sustained relief and recovery efforts following the effects of...

PBBM orders release of P362-M to fast-track rehab of quake-damaged infra in Mindanao

By Dean Aubrey Caratiquet On top of concurrent efforts from various agencies to help Mindanaoans rise from the effects of the magnitude 7.8 earthquake that...

PBBM says anti-corruption drive among gov’t’s top priorities

By Darryl John Esguerra | Philippine News Agency President Ferdinand R. Marcos Jr. on Tuesday said the fight against corruption remains one of the most...