COVID - 19 economic concerns to continue to boost dollar Commodity currency prospects stay bleak in near term Investors cautious but trading calmer than on Thursday. The safe-haven U.S. dollar slipped from a 9- 1 2 months high on Friday as risk appetite remained as equities gained and benchmark Treasury yields rose, although the near-term outlook for the greenback remained positive. The U.S. currency remained supported overall by concerns that the coronavirus Delta variant could derail global economic recovery just as central banks begin to reverse COVID 19 pandemic-related stimulus. The dollar index, measured the U.S. currency against six rivals, rose for the first time since November from 93.734 to before moving 0.1% lower at 93.491. For the week, it posted a 1% gain, the most in two months. While moves in currency markets were much more restricted than on Thursday when equity markets steadied, the risk-sensitive Australian and New Zealand dollars were mixed, but their total bias remained tilted to the downside. In the near term, we expect the dollar to double in size, according to Jonas Goltermann, a senior market economist at Capital Economics, in his recent research note. We think that robust growth in the US relative to other major economies and a gradual tightening of monetary policy will put further upward pressure on the greenback. Minutes of the July meeting of the Fed, released on Wednesday, showed officials largely expected to reduce their monthly bond purchasing later this year. The Australian dollar sank to a new low of US $0.7107 in 9 months and was down 0.2% to US $0.7137. The Aussie fell 3.3% on the week, its worst weekly performance since September 2020 as a COVID - 19 lockdown in Sydney was extended for a month. New Zealand's Kiwi Dollar dropped to a new nine month low of $0.6807 at one point. It last traded up 0.2% at US $6838. The government extended a tight COVID lockdown on Friday that delayed the central bank raising interest rates this week. The Canadian dollar sunk to an eight-month low of C $1.2948 per U.S. dollar and was last at C $1.2840, down 0.1% against its U.S. counterpart as oil prices fell further because of worries about the global economy. Norway's crown dropped for a second day as weaker oil prices and general nervousness among investors hit the currency despite the Norwegian central bank keeping its plan for a September interest rate hike on Thursday. The euro was the last. Offered in 9.56 crowns, it was flat. The euro was around 0.2% higher at $1.1697, not far from the 9 - 1 2 - month low of $1.1665 reached overnight. Against the yen, another safe haven currency, the dollar in 109.80 was flat. Sterling dipped to one-month lows against the dollar and last fell 0.1% to $1.362. Emerging markets have also had a bruising week. A regulation crackdown in China has brought worry about growth and COVID 19 - 18, which have sent investors looking for safer assets. The Chinese yuan collapsed to a new 3 week low of 6.51 pence per dollar in the offshore market before trading flat at 6.499.