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Battered U.S. dollar 'hanging by a thread' as virus cases grow
By Gertrude Chavez-Dreyfuss
Wednesday, July 22, 2020
NEW YORK -- A steady decline in the dollar has accelerated in recent weeks as a resurgent coronavirus outbreak in the United States and improving economic prospects abroad sour investors on the currency.
The buck is down 8% from its highs of the year against a basket of currencies and stands near its lowest level since 2018. Net bets against the dollar in futures markets are approaching their highest level in more than two years.
"The dollar is hanging by a thread," said Mazen Issa, senior currency strategist at TD Securities in New York. "At this point the dollar-weakness mindset has become deeply entrenched." ...
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