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The U.S. dollar was down on Wednesday morning in Asia after increasing optimism over a global economic recovery from COVID-19 increased investor risk appetite.
Investors focused on countries continuing to loosen lockdown measures and restarting their economies, despite the ever-growing number of COVID-19 cases and no cure.
There are almost 6.4 million global cases of the virus as of June 3, according to Johns Hopkins University.
The that tracks the greenback against a basket of other currencies fell 0.24% to 97.427 by 11:49 PM ET (4:49 AM GMT) as investors retreated from the safe-haven asset.
“The U.S. dollar is generally weak... The economy recovery story is the main factor.
The pair was down 0.05% to 108.61. The yen is also considered a safe-haven asset.
The pair rose 0.16% to 7.1107. China’s reading for May was 55, indicating a return to growth for the country’s services sector for the first time since January.
The pair gained 0.66% to 0.6939 even after the Bureau of Statistics said that fell 0.3% during the first quarter of 2020.
Daiwa Securities’ Ishizuki remained optimistic about the AUD, saying that “The Australian dollar has a lot of room to run because there are still a lot of shorts that need to be covered.”
The pair rose 0.71% to 0.6413 and the pair gained 0.31% to 1.2588.
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