The greenback extended higher gains ahead of weekend trading in the Asian session, with most other major currencies continuing to be weighed down by concerns over a growing coronavirus outbreak.
Optimism for a reduction in bond purchases to be implemented this year by the Federal Reserve has further strengthened the strengthening of the US dollar which has also benefited as a safe-haven amid risky sentiment.
The US jobless claims volume reading published yesterday, also supported the US dollar after showing a decline to its lowest level since mid -March 2020, last week.
The dollar index, which measures the strength of the greenback against a basket of major currencies, jumped to a 9 -month high, leading it to trade strong at 93.50 at the start of the Asian session.
Following market concerns over the Covid-19 contagion and falling oil prices, commodity-linked currencies fell sharply over the weekend, with the Canadian dollar being dragged down to its latest six-month low.
Meanwhile, the euro continued to trade weak around a 9 -and -a -half -month low, after posting a decline of around 0.94% this week, the most fall since mid -June.
The pound sterling, meanwhile, touched a one -month low, as rising coronavirus cases in the UK added to market concerns over the currency. It has fallen 1.64% this week, which is the biggest decline in two months.
