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The dollar bounced on Thursday as the U.S. Federal Reserve said it might reveal more monetary easing, cutting expectations of a quick economic recovery.
The dollar fell as re-opening economies lowered the demand for holding funds in dollars.
The euro steadied ahead of a European Central Bank meeting later on Thursday. The yuan reached a two-week high as the Chinese economy is beginning to recover from the pandemic.
The dollar stood at 106.72 against the Japanese yen. It traded at 1.2455 against the pound. It was little changed at 0.9748 against the Swiss franc.
U.S. first-quarter GDP showed a 4.8% contraction. Fed Chairman Jerome Powell said that economic recovery would take longer.
The euro stood at 1.0866 against the dollar and at 87.26 pence against the pound.
The Australian dollar traded at $0.6542, nearing its seven-week high.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
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