Commodity News
HeadLine : Dollar resumes descent against safe-haven currencies in volatile trade
Date : Mar 11 2020
The dollar resumed its descent against the safe-haven Japanese yen and Swiss franc on Wednesday after a rebound the previous day as nervous sentiment over the coronavirus epidemic persisted. The moves mirrored falls in U.S. equity futures and U.S. bond yields in early trade in Asia on Wednesday, with most investors still on the sidelines even after risk assets made some recovery on Tuesday on hopes governments will take measures to ease the economic pain from the epidemic. The dollar had jumped back on Tuesday as investors hoped global monetary policymakers will launch further stimulus plans aimed at bolstering economies hit by trade and travel disruptions. Financial markets are also expecting the U.S. Federal Reserve to cut interest rates by at least 0.5 percentage point at its policy review next week, in addition to its emergency rate reduction earlier this month. That will essentially diminish the dollar's yield advantage over other major currencies, which has been a main driver of the dollar's strength in the past few years.

Source : Reuters
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