The Greenback rose as a safe haven after relations between the U.S. and China have deteriorated over Hong Kong.

Daily Currency Update

USD - United States DollarThe U.S. dollar has advances 0.42 percent versus a basket of majors currencies, and it has gained 0.53 versus the Euro. The U.S. is considering economic penalties for China in relation to their plan to enact sweeping national security legislation in Hong Kong. White House economic aide Kevin Hassett said on CNN, “We’re absolutely not going to give China a pass. All the options are on the table .. If Hong Kong stops being Hong Kong, the open place it is, then it is no longer going to be the financial center that it is ... and that’s going to be very costly to China and the people of Hong Kong. So, yeah, I think it is a very difficult, scary move and that it is something that people need to pay close attention to.”Covid-19 continued to take jobs in every US state in April. The largest deterioration in the labour market occurred in Michigan, Vermont, and New York. In Michigan, payrolls have plummeted by 22.8 percent (a little over 1 million) to to 3.4 million since the prior month. Meanwhile, the unemployment rate jumped to 14.7 percent, the highest in government records dating back to the 1940s. The unemployment rates in 43 states were the highest on records dating back to 1976. The jobless rates in Nevada and Hawaii exceeded their previous records by more than 10 percentage points each.