The dollar held gains on Thursday as investors rushed to the security of the world's most liquid currency as the coronavirus pandemic caused massive disruptions to global trade.
, having dropped 0.99% in the previous session.Markets were spooked after U.S. President Donald Trump’s dire press briefing late Tuesday, in which he warned Americans of a “painful” two weeks ahead in fighting the coronavirus even with strict social distancing measures.
“With only a few actual data points so far, the results indicate this is looking more like a depression than a garden-variety recession.” The next jobless claims data release due at 1230 GMT on Thursday is expected to show another 3.50 million applications during last week.“As we’ve seen yesterday, a deterioration in the U.S. economic outlook is likely to lead to strength in the yen against the U.S. dollar,” said Shin-ichiro Kadota, senior strategist at Barclays.
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