 |
|
|
|
| Commodity News |
| HeadLine : |
Yen firm, riskier currencies wobble as policymakers grapple with pandemic |
| Date : |
Mar 17 2020 |
Global risk assets were routed over the past several days, with turmoil engulfing many markets on worries the outbreak and draconian containment measures could trigger steep recessions in major economies. As a result, trading in most markets including foreign exchange is driven more by loss-reduction and other position unwinding to reduce risks or make up for losses, rather than fresh bids, market players said. The dollar traded at 106.33 yen , bouncing back from Monday's low of 105.15, but still down 1.6% so far this week. A rout on Wall Street on Monday underscored fears over the coronavirus crisis in the West as well as the Federal Reserve's emergency move to slash rates on Sunday. But investors took the Fed action, joined by central banks in Japan, Australia, New Zealand and elsewhere, as insufficient given the pathogen's breakneck spread across the world which has put many nations on virtual lockdowns.
Source : Investing
|
|
|
News Archives:
|
|
|
|
|