U.S. dollar reaches six-week high on weaker euro, Swiss franc and yen
The U.S. dollar reached a six-week high on Monday on weakness in the euro, Swiss franc and Japanese yen amid views that the United States has an advantage in growing its economy and vaccinating its population against COVID-19.
The dollar index was up 0.37% to 90.955 in late afternoon trading in New York, just off of levels last seen on Dec. 21.
The Japanese yen weakened, hovering around 105 to the U.S. dollar, a level not seen since mid-November.
The euro was off 0.57% to $1.2069. Against the Swiss franc the dollar was up 0.66% to 0.8967 to the dollar, its weakest level in two months.
The moves came on evidence pointing toward a stronger recovery from the coronavirus pandemic for the United States than for other countries.
The euro weakened after Germany reported that retail sales plunged by an unexpected 9.6% in December after tighter lockdowns last year to curb the spread of COVID-19 choked consumer spending in Europe’s largest economy.
Reference: CNBC
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