* Aussie dollar, New Zealand dollar not doing well in May
* Sterling falls, reflecting Brexit transition worries
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
By Olga Cotaga
LONDON, May 15 (Reuters) - The U.S. dollar was set for a weekly gain on Friday and the Australian dollar for a 1% drop this week as the threat of a second wave of coronavirus infections rattled investors.
As hopes faded for a quick global recovery from the pandemic, traders unloaded the trade-sensitive Aussie and moved into safer assets such as the U.S. dollar.
"The risk is clear that the opening of economies takes longer to materialise vs what markets are discounting," said Carl Hammer, head of macro and FICC research at SEB.
One key trigger for investor sentiment on Friday is the flash estimate release of the Germany gross domestic product data at 0800 GMT. Economists polled by Reuters expect Europe's largest economy to shrink by 2.2% in the first quarter, less than other euro zone states.
"However, data published since the first estimate has been generally weaker than expected and we see a risk of the first estimates being revised down for several countries," Hammer said.
The euro was last neutral versus the dollar at $1.0796 , set for a 0.3% weekly gain.
The Australian dollar fell 0.2% 0.6454, on course for a 1.1% decline since Monday. The New Zealand dollar also fell by 0.2%.
The yen was steady at 107.16 per dollar, but has ground lower this week as U.S. Federal Reserve officials talked down the prospect of negative rates, also buoying the dollar.
The antipodean pair, like other majors, have struggled for traction in May as investors and authorities weigh optimism about easing virus containment measures against the risk of more infections and the sheer scale of economic damage already done.
Elsewhere, the British pound remained under pressure, falling 0.3% to $1.2202, after touching a five-week low of $1.2161 overnight, following the British government's reiterating its refusal to extend the Brexit transition deadline beyond December.
(Reporting by Olga Cotaga, editing by Larry King)
https://news.yahoo.com/forex-us-dollar-set-weekly-074611217.html
2020-05-15 07:46:00Z
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