# Covid-19 second wave leads to surge in demand for safe-haven assets

> Investors are moving from risk assets to safe havens after the second wave of Covid-19 cases in the US and China. The baht traded between 30.94 and 31.24 per dollar that week as the dollar and yen gained as low-risk currencies. Gold rose to US$1,729 per ounce on US-China tensions.

- Date: 2020-06-20 · published 2020-06-20T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/52894-covid-19-second-wave-leads-to-surge-in-demand-for-safe-haven-assets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

Safe-haven demand strengthens the dollar and gold while weighing on emerging-market currencies, which raises the cost of dollar-priced imports for Asian buyers. Renewed lockdowns could also cut demand for feed and meat.

## Read by commodity

- DXY: bullish ▲
- USDTHB: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-27 | [Won plummets as investors flock to safe-haven dollar](https://feedsoft.ai/events/34360-won-plummets-as-investors-flock-to-safe-haven-dollar.md) | +1.1% | +1.1% |
| DXY | 2026-03-25 | [US Dollar Strength Reflects Rates Spike More Than Safe Haven Demand \| Investing.com](https://feedsoft.ai/events/20352-us-dollar-strength-reflects-rates-spike-more-than-safe-haven-demand-investing.md) | +0.8% | -1.4% |
| DXY | 2016-11-30 | [USD JPY breaks out to new highs as dollar surges and safe havens suffer](https://feedsoft.ai/events/74086-usd-jpy-breaks-out-to-new-highs-as-dollar-surges-and-safe-havens-suffer.md) | -0.6% | +1.3% |
| DXY | 2018-05-16 | [US and German bond yields have widened to levels not seen in almost 30 years](https://feedsoft.ai/events/65212-us-and-german-bond-yields-have-widened-to-levels-not-seen-in-almost-30-years.md) | -0.0% | +0.9% |
| DXY | 2020-09-23 | [Currencies slip as dollar gains on safe-haven demand, rand drops 1% \| Financial Post](https://feedsoft.ai/events/51393-currencies-slip-as-dollar-gains-on-safe-haven-demand-rand-drops-1-financial-post.md) | +0.8% | -1.4% |

## Sources

- nationthailand.com: https://www.nationthailand.com/business/30389979

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.