on Wednesday, the euro fell to its lowest level in two months, in light of concerns about a second wave of infections with the Corona virus, with weak European indicators, while the dollar rose supported by economic data Positive from the United States.
According to Reuters, the greenback rose to $ 1.1671 against the euro, its highest level since July 27, after data showed that the private sector in Germany recorded a recovery below expectations in September amid weakness in the service sector driven by domestic factors. German consumer sentiment also improved, below expectations, according to a survey.
A previous report revealed that business activity in France slowed to its lowest level in four months in September, with the services sector performing weaker than expected while France struggled to contain a new increase For COVID-19 cases.
and dealers in the pound sterling and the euro are concerned that Britain and the European Union will fail to reach a free trade agreement, which could cause more economic tensions.
analysts at Commerzbank wrote in a note on Wednesday morning. At the moment the market is dominated again by concern about a second wave of infections, especially in Europe, and this means a return Demand for the dollar again.
It is likely that the dollar’s gains will continue at the present time, while sentiment in Europe is shaken by the Corona virus, but the uncertainty about the US presidential elections this year means that the dollar is exposed to more Twists.
The sterling fell to $ 1.2692, the lowest level since late July, after British Prime Minister Boris Johnson announced new restrictions on economic activities to counter a second wave of the Coronavirus.
The dollar settled against the Swiss franc at 0.9201, after gaining 0.6 percent on Tuesday, when the greenback was supported by data showing that home sales in the United States rose to its highest level in about 14 years old in August.
The dollar index, which measures the performance of the greenback against a basket of six other currencies, rose to 94.25 on Wednesday, its highest level in two months.
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