Risk currencies looked fragile and the yen firmed on Wednesday, the first day of a quarter that looks set to see the worst economic contractions for decades in many countries as they scramble to tackle the coronavirus epidemic. The U.S. dollar could come also under pressure, particularly against other liquid major currencies, under the weight of Federal Reserve measures designed to ensure sufficient liquidity in the global financial system. The U.S. dollar could come also under pressure, particularly against other liquid major currencies, under the weight of Federal Reserve measures designed to ensure sufficient liquidity in the global financial system. Overnight the U.S. dollar gained against the both Aussie and the kiwi but weakened against the yen and ended almost flat against most European currencies. The Fed on Tuesday broadened the ability of dozens of foreign central banks to access U.S. dollars during the coronavirus crisis by allowing them to exchange their holdings of U.S. Treasury securities for overnight dollar loans. The U.S. Federal Reserve has been buying U.S. bonds at an unprecedented pace and has started programs to support credit markets, including commercial paper, corporate bonds and asset-backed securities.