Gold’s rally has lost steam just below $2,000 an ounce and trading gold amid the pandemic becomes increasingly popular.
Fears about the economic fallout from soaring COVID-19 cases and economies suffering deepest contraction on record force investors to take a step backwards.
The euro touched $1.19, its strongest since May 2018 as the dollar extended its dramatic fall sending the common currency higher.
Japan and Germany are among the large economies for which analysts’ GDP forecasts were too optimistic, facing steepest contraction on record.
Amid a surge in coronavirus cases fueling demand for riskier currencies, financial markets expect Federal Reserve to hold fire on fresh steps.