July 31, 2021
Economy

U.S. dollar advances to three-month high in safety move

  • Commodity currencies struggle vs U.S. dollar
  • U.S. housing starts data rise
  • Bitcoin falls below $30,000 for first time since June

NEW YORK, July 20 (Reuters) – The U.S. dollar climbed to a three-month peak on Tuesday in a flight-to-safety bid, as investors remained anxious about a fast-spreading coronavirus variant that could throttle global growth.

Commodity currencies tied to risk appetite such as the Australian and New Zealand dollars struggled, with investors opting for safety or staying on the sidelines amid renewed fears about the highly contagious Delta variant, now the dominant coronavirus strain worldwide.

U.S. infectionshave surged, especially in areas where vaccinations have lagged. read more

The dollar rose as yield differentials have moved against it. Benchmark 10-year U.S. Treasury yields dipped to a five-month low below 1.20% on Monday on renewed skepticism about a strong…

Read full article here: www.reuters.com