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8/18/2020, 10:32 AM (Source: TeleTrader)
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Dollar drops to over 2-year low as economic concerns rise

The dollar extended losses on Tuesday for the fifth day in a row amid increasing concerns regarding the speed of United States economic recovery.

Tensions between the US and China continued to mount as the dispute over TikTok's operations in the US and Huawei's 5G network remained in focus. Despite protests in Belarus still raging across the country, President Alexander Lukashenko insists he won't share power under pressure. Finally, major stock markets in the world are having very volatile sessions in response to the pandemic.

All of the world's biggest currencies, including the euro, the pound and the yen, made gains against the greenback at 4:18 am ET. The euro and the pound rose 0.17% and 0.44% to sell for $1.19 and $1.32, respectively, while the dollar declined versus the yen to sell for ¥105.64.

Breaking the News / ND