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Commodity News |
HeadLine : |
Dollar steadies after slide as greenback funding stays tight |
Date : |
Mar 25 2020 |
Foreign exchange markets were in consolidation as the prospect of a huge U.S. stimulus package bolstered Asian stock markets although gains in riskier currencies were tempered. The safe-haven dollar, which had pulled back from recent peaks, was now steady against the euro EUR= at $1.0789, and fell only marginally against the yen JPY= to 111.11 yen per dollar. The U.S Federal Reserve's offer of unlimited bond-buying, on top of opening discount dollar funding lines to central banks around the globe, has supported risk sentiment for the past day along with hopes for a huge U.S. fiscal stimulus package. The Dow Jones posted its biggest one-day gain since 1933 overnight and Asian markets kept the rally going on Wednesday.
Source : Investing
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