Dollar retreats again in Asia as solid data offsets coronavirus worries


Source: deccanherald.com deccanherald.com

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The dollar handed back some recent gains against most of its major rivals on Tuesday, as strong regional economic data helped to offset worries about a second wave of Covid-19 cases in Europe and the United States. Profits at China's industrial firms rose for a fifth straight month in September and South Korea's economy roared back to growth, official data showed. That supported the yuan and sent the won soaring close to a seven-month peak. It also unwound some of the previous day's modest dollar gains against major currencies amid an equities selloff driven by a resurgence in coronavirus infections....