NEW YORK: The dollar firmed modestly on Tuesday, lifted by renewed concerns about the spread of the novel coronavirus, as countries around the world and some US states imposed new lockdowns, stalling their paths to economic recovery.
In late morning trading, the dollar index was up 0.1% at 97.530, holding onto overnight gains after upbeat US home sales data boosted Wall Street.
On the quarter and month, the dollar was on pace for losses of 1.4% and 0.8% respectively.
The dollar also gained versus the yen, up 0.1% at 107.725. The euro, meanwhile, fell 0.3% against the dollar to $1.1212, pressured by data showing underlying price pressures dropped again in the euro zone. That underscored fears that consumer price growth will remain anaemic for years.
Over the quarter, the European currency staged a 1.6% comeback after falling by a similar margin during the first three months of the year marked by the coronavirus financial market crash. For the month of June, the euro was up 0.9%.
Traders said there remains a barrier of $1.1200 for the euro on the downside
Sterling reversed losses against the dollar to trade up 0.2% at $1.2328. The safe-haven Swiss franc gained a little bit against the dollar. The greenback was last at 0.9499 franc, down 0.2%.
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