⁍ U.S. stocks had opened higher, tracking Europe, but turned negative after the morning data.
⁍ The dollar touched its highest level since late July against a basket of six major currencies.
– The dollar hit a two-month high against a basket of six major currencies today as investors worried about the impact of the West Nile virus on the US economy. The dollar “is in demand again,’ Commerzbank analysts wrote in a morning note, noting that “the market is once again dominated by concerns about a second wave of infections, above all in Europe, meaning that the dollar is in demand again.” The euro was down 0.32% to $1.1664, while the dollar was up 0.32% to 105.31 yen. “The market is once again dominated by concerns about a second wave of infections, above all in Europe, meaning that the dollar is in demand again,” one investment strategist tells Reuters.
Source: https://www.reuters.com/article/global-markets/global-markets-stocks-dip-dollar-up-as-data-warns-of-sputtering-recovery-idUSL5N2GK3Y1