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US dollar struggles to stem decline, but gold performs well as investors fret over US job recovery

Reuters
Reuters8/6/2020 10:25 AM GMT+08  • 3 min read
US dollar struggles to stem decline, but gold performs well as investors fret over US job recovery
The US dollar struggled to stem its broad decline as investors worried the US economic recovery may lag other countries due to a high level of coronavirus infections.
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The dollar struggled to stem its broad decline on Thursday as investors worried the US economic recovery may lag other countries due to a high level of coronavirus infections while the global economy slowly gets back on its feet.

The dollar’s index against a basket of currencies =USD edged down 0.1% to 92.719, having fallen more than 0.5% in the previous session to approach its two-year low of 92.539 marked last Friday.

“Dollar-selling seems to have resumed. We are having the same structure we saw in July,” said Shinichiro Kadota, senior strategist at Barclays.

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