The US dollar recorded an increase at the beginning of trading this week, in light of the decline in risk appetite, after the increased spread of the Corona virus in some Chinese cities, and the tightening of precautionary measures.
According to Arabiya.net, the dollar rose strongly, against major currencies, today, Monday, at a time when the Chinese yuan fell, with sentiment deteriorating due to the rise in coronavirus infections.
The Chinese capital, Beijing, recorded two deaths on November 20, while the city's most populous district urged people to stay home on Monday, as COVID-19 infections soared.
Soaring infections and new deaths have cast doubt on hopes for an easing of strict restrictions suffocating the economy.
And the Chinese yuan recorded in internal trading 7.1451 per dollar, and fell to 7.1708, which is its weakest level since November 11.
The dollar index, which measures the performance of the US currency against six major currencies, rose 0.412% to 107.33 today, Monday, its highest level since November 11, according to Reuters.
The index also rose 0.5% last week, achieving its biggest weekly gain in a month, as investors flocked to the safe-haven currency.
Despite the gains it made today, Monday, the index is still on its way to recording its worst monthly performance since July 2020.
Comments about monetary tightening by officials from the Federal Reserve (the US central bank) helped the dollar stabilize after sharp losses suffered earlier this month, when inflation data that was slightly less than expected boosted investors' hopes of a slowdown in raising prices. interest rates.
The euro fell 0.46% to $1.0277, on track to record a series of losses over three days, near its lowest level since November 14, while the pound sterling recorded last trading at $1.1831, down 0.47% during the day.
The Australian dollar fell 0.49% against the dollar, to $0.664.
Cryptocurrencies remained under pressure, with Bitcoin dropping 0.63% to $16,153.00.
