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Dollar Turns In Mixed Performance Against Peers

After recent strong uptick, the U.S. dollar turned in a mixed performance against its peers on Monday as increased risk appetite weighed on the safe-haven currency.

Stock markets saw some hectic buying today after data showed a drop in new coronavirus infections and fatalities in several hot spots across the European region.

While Italy reported the fewest deaths in more than two weeks, France's daily death count from the novel coronavirus dropped in the past 24 hours and admissions into intensive care also slowed. Elsewhere in Spain, the death rate fell for the third straight day.

The dollar index moved between 100.48 and 100.93, spending much of the session in positive territory. The index was last seen at 100.71, up 0.13% from previous close.

Against the Euro, the dollar strengthened to $1.0769 early on in the session, but retreated later to around the flat line at $1.0800.

Eurozone investor confidence fell to a record low in April as the coronavirus, or Covid-19, pandemic spread across the globe, results of a survey by the behavioural research institute Sentix showed. The Sentix investor confidence index shed 25.8 points to reach an all-time low of -42.9. Economists had forecast a reading of -30.3.

Germany's factory orders fell 1.4% month-on-month in February after rising by revised 4.8% in January, data from Destatis showed. Orders were expected to fall 2.5%. On a yearly basis, factory orders grew 1.5%, in contrast to a 0.8% drop in January.

Germany's construction activity decreased at the sharpest rate in seven years in March with declines in all sub-groups as firms cut jobs amid weaker demand due to the coronavirus outbreak, survey data from IHS Markit showed.

The Pound Sterling was weak against the dollar at $1.2241 a sterling, after having firmed up to $1.2211 earlier. In early trades today, the dollar was notably lower against the sterling at $1.2325.

News that UK Prime Minister Boris Johnson has been admitted to hospital has sent the Pound lower at the beginning of the new week.

The recovery came after housing minister Robert Jenrick said Johnson was fine and was expected to be back at 10 Downing Street soon.

Survey data from IHS Markit and Chartered Institute of Procurement & Supply showed that the UK construction sector contracted at the steepest rate since April 2009 reflecting the impact of the COVID-19 pandemic.

The Japanese Yen was weaker by more than 0.6% at 109.17 a dollar. It dropped to a low of 109.38 in early Asian deals before recovering some lost ground. According to reports, the Japanese Prime Minister Shinzo Abe intends to declare a state of emergency in the country following a surge in the number of infections in Tokyo and other major

The Aussie was stronger by as much as 1.5% with the AUD-USD pair at 0.6089, thanks to increased risk appetite.

Against the loonie, the dollar was notably down at 1.4109, while against Swiss franc, it was up marginally at 0.9786.

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