Dollar set for biggest rise in 7 days as virus cases climb as seen by Forex Signals Site.

LONDON (Reuters) – The U.S. dollar was on track for its biggest single day gain in seven trading sessions on Tuesday as coronavirus outbreaks threatened to snuff out global economic recovery with the Australian dollar and the British pound leading losses.

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Fears over the spread of the highly infectious Delta variant are denting sentiment at a time markets are on edge after the Fed shocked traders with a hawkish tilt earlier this month.

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“Any rise in risk aversion is obviously good news for the U.S. dollar.” best forex signals telegram

Against a basket of its rivals, the greenback rose 0.2% to 92.06, not far from three-month highs of 90.68 hit this month, registering its biggest single-day gain since June. 18.

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Elsewhere, sterling slipped back toward a two-month low, weakening 0.2% to $1.3846.

The Australian dollar, seen as a liquid proxy for risk appetite, fell 0.3% to $0.75580 amid concerns over renewed COVID-19 lockdowns across parts of the country.

Dollar set for biggest rise in 7 days as virus cases climb Forex Trading for Beginners

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Dollar set for biggest rise in 7 days as virus cases climb