The corona pandemic has made the appeal of the US dollar value continues to decline. The dollar index collapsed to reach the level of 89,822 last week, fell 6.81% YtD, and was at its lowest level since April 2018. However, it is different from other currencies that have turned around. Here are 3 of the most resilient currencies during the Covid-19 pandemic:
1. Swedish
Krona The Swedish Krona is the best currency this year. Launching the Refinitiv data, this year the krona has strengthened 13.4% and is at its strongest level since March
2018.Before experiencing the spike in Covid-19 cases since last October, Sweden became one of the countries that succeeded in reducing the spread of the virus originating from the city of Wuhan. , The Chinese.
The success in reducing Covid-19 has become one of the pillars of strengthening the krona. However, the main factor in the strengthening of the krona this year is its status as a “risk-on” currency, a currency that is sought after when market sentiment improves.
2. Danish Krona
The Scandinavian currency is again in the order of the best runners up this year. After the Swedish krona, now there is a Danish krona that has recorded a 9.2% increase in YtD, and is at the strongest level since April 2018.
Similar to Sweden, Denmark is one of the countries that has succeeded in reducing the spread of Covid-19. But unfortunately since September there has been a significant spike in cases again. In fact, it continues to set a record for the addition of the most cases.
3. Euro
In third place, the world’s best currency is the euro. The currencies of these 19 countries have successfully posted a gain of 8.7% YtD against the US dollar and are at their highest level in more than 2.5 years.
Similar to Sweden and Denmark, the 19-nation block has also succeeded in reducing the spread of the corona virus, but is once again facing a second wave of attacks.
However, the euro exchange rate continues to advance, because the eurozone recovery is expected to be superior to the US.
Read now:
