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| Commodity News |
| HeadLine : |
Dollar regains footing as Fed cut shakeout fades |
| Date : |
Mar 5 2020 |
The safe-haven yen also handed back a fraction of recent gains, as the resurgence of moderate Joe Biden in the Democratic Party primaries lifted investors' risk appetite. Strong U.S. labor-market data overnight, with February private payrolls beating expectations, helped the greenback 0.3% higher on the euro .A dollar last bought 107.61 yen . An emergency 50 basis point interest rate cut by the Fed on Tuesday had sent the dollar to a five-month low of 106.84 yen. The Australian and New Zealand dollars, heavily sold as the virus' outbreak widened, halted a nascent advance on the greenback. Australia's Treasury Department said on Thursday that it is not forecasting a recession as yet, but that the coronavirus is expected to wipe half a percentage point from first-quarter growth.
Source : Investing
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