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Dollar Retreats, With Investors Balancing Positive Chinese Data with Ever Increasing COVID-19 Numbers By


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By Gina Lee – The dollar retreated on Tuesday morning in Asia, giving up it gains from the last session as investors balance positive trade data with increasing COVID-19 figures.

China reported a higher-than-expected of 50.9 earlier in the day. Meanwhile, COVID-19 continues its rampage, with over 10.2 million cases as of June 30 according to Johns Hopkins University data.

U.S. Federal Reserve Chair Jerome Powell warned on Monday that the outlook for the U.S. economy is “extraordinarily uncertain” and is dependent on the virus being contained and government measures to support recovery. Some U.S. states have reported a recent surge of cases as they prepared to re-open and restart their economies.

“We’ve seen cases rising again even in countries that appear to have contained the disease such as Japan and Australia… the bankruptcy of [entertainment group] Cirque de Soleil highlights the fact that…

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