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The dollar rose on Friday and is headed for the biggest weekly rise since early April with the euro’s fall after a European Union meeting on Thursday to establish a trillion euro emergency fund that failed to allay fears. from investors.
Although European Union leaders agreed to build a bumper to help recover from the Corona virus pandemic, French President Emmanuel Macron said disagreements persist among EU governments over whether the fund should transfer grant funds or simply provide loans.
The euro fell overall today, falling 0.4% against the dollar, to the lowest level in a month at $ 1,07275, and to the lowest level in three years against the yen at 115.55 yen.
The losses in the single currency came in light of rising Italian bond returns by between five and nine basis points over several periods.
With Italy and Spain much more affected than Germany by the crisis, old hostilities have erupted across the bloc, facing a drop in economic output of up to 15 percent, according to the European Central Bank.
Euro losses pushed the US currency toward the biggest weekly gain since early April, and against a basket of competing currencies, the dollar rose 0.2 percent to 100.72. Weekly, the dollar rose more than 1 percent.
Australian and New Zealand dollars fell about 0.2 percent, with the New Zealand dollar holding below 60 cents at $ 0.5996 and the Australian dollar at $ 0.6359, below a resistance level of about 64 cents on the dollar.
