The dollar settled below its two-month high it reached recently on Friday and riskier currencies erased some of their weekly losses, while stock markets received a boost from hopes of resuming talks on fiscal stimulus in the United States..
The dollar is moving towards achieving its best weekly performance since early April, driven by a reluctance to take risks, which made dealers abandon their selling positions in the US currency, as the prospects for a global economic recovery darkened in light of a second wave of Coronavirus infections in Europe..
The dollar fell slightly today, while riskier currencies, which fell sharply this week, gained in early trading in London.
Shares rose after a rally driven by technology stocks late in Wall Street, while sentiment received support from a senior lawmaker saying that Democrats in the US House of Representatives are working on a $ 2.2 trillion coronavirus-related stimulus package that may be voted on next week..
The New Zealand dollar rose to 0.6584, rising 0.6 percent since the close in New York, but it was still down 2.6 percent for the week..
The Australian dollar gained 0.5 percent to $ 0.7086, but it was still posting its worst weekly performance against the greenback since March. .
The dollar index, which tracks the performance of the greenback against a basket of six currencies, fell by less than 0.1 percent during the session to 94.246, but was up 1.3 percent for the week, the largest weekly jump in nearly six months..
The euro rose 0.1 percent today to $ 1.1676, but is down 1.4 percent for the week.
The yen rose slightly against the dollar, to 105.385, while the Swiss franc gained about 0.1 percent against the euro.
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