Forex Today: Dollar wins as fears mount

Here is what you need to know on Thursday, June 25:

 Risk-off was the theme of the day. After Wall Street gave up late Tuesday, global  indexes closed in the red this Wednesday. There was not a particular catalyst but mounting concerns about rising coronavirus cases in the US. Florida is the new epicentre of the pandemic, but the cases also soar in Texas, Arizona, and other neighbour states.  

The dollar appreciated against all of its major rivals, included those considered safe-havens. The USD/JPY pair recovered to 107.00 while gold price retreated from a fresh multi-year high of 1,779.41 to settle around 1,765.

UK health experts have warned the government about the risk of a second wave of coronavirus contagions as PN Johnson continues to lift restrictive measures. GBP/USD nears 1.2400.

Crude oil prices collapsed after the release of US stockpiles reports. API reported an increase of 1.75 million barrels while the EIA weekly report post a 1.4 million gain, both well above the market’s expectations.

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