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| Commodity News |
| HeadLine : |
Dollar resumes ascent as investors panic about coronavirus, scramble for cash |
| Date : |
Mar 19 2020 |
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Sterling teetered near the lowest since at least 1985 against the greenback. The Australian dollar skidded to a 17-year low, while the New Zealand dollar crashed to an 11-year low as investors dumped riskier assets. The greenback jumped 2% to an 11-year high versus the New Zealand dollar NZD=D3 and rose 1% against the Australian dollar to a 17-year high. The U.S. dollar has been climbing against most other currencies as a shortage of the currency pushed up swap rates. The ECB’s purchase scheme, which was announced at an emergency meeting late on Wednesday, came less than a week after policymakers launched fresh stimulus measures. Major central banks this week have announced emergency interest rate cuts, asset purchases, and dollar liquidity provisions in an attempt to calm financial markets, but the effect has been less than many policymakers desired.
Source : Reuters
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