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Business/Economy

US dollar edges down as traders weigh coronavirus impact

US dollar

New York:  The US dollar declined modestly in late trading on Friday as market participants gauged the impact from the Covid-19 pandemic.

The dollar index, which measures the greenback against six major peers, fell 0.01 per cent at 97.4326.

In late New York trading, the euro was up to $1.1228 from $1.1215 in the previous session, and the British pound decreased to $1.2344 from $1.2405 in the previous session, Xinhua reported.

The Australian dollar was down to $0.6866 from $0.6871.

The US dollar bought 107.18 Japanese yen, lower than 107.20 Japanese yen of the previous session. The US dollar fell to 0.9474 Swiss franc from 0.9489 Swiss franc, and it was up to 1.3656 Canadian dollars from 1.3649 Canadian dollars.

Coronavirus cases continued to rise across the US.

More than 2.4 million confirmed Covid-19 cases have been reported in the United States, with over 124,000 deaths, as of Friday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.

Texas Governor Greg Abbott issued an executive order Friday limiting certain businesses and services to contain the spread of Covid-19.

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