The yen fell against the dollar for the first time in five sessions, while the Swiss franc declined, as Wall Street rallied to claw back some of the sharp losses suffered in the prior session. — Reuters pic
The yen fell against the dollar for the first time in five sessions, while the Swiss franc declined, as Wall Street rallied to claw back some of the sharp losses suffered in the prior session. “There has been a paring back of bearish bets on the dollar,” said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington.
Hopes of a post-Covid global recovery, the easing of US-China trade tensions and the prospect of capped long-term yields in the United States had weighed on the dollar, pushing it lower against most major currencies, before it strengthened.That said, the dollar still posted its worst weekly performance against the yen since late March.