The dollar nursed losses on Wednesday as investors cautiously returned to riskier currencies after U.S. President Donald Trump edged toward rolling back some restrictions put in place to contain the coronavirus pandemic.
FILE PHOTO: U.S. dollars and other world currencies lie in a charity receptacle at Pearson international airport in Toronto, Ontario, Canada June 13, 2018. REUTERS/Chris Helgren
This move is expected to lead to a cut in the benchmark rate next week as central banks try to offset the economic cost of the pandemic. Daily fatalities in the United States from the coronavirus have fallen sharply, and states are making plans to get businesses open again. Another factor weighing on the dollar is the large amount of greenback liquidity provisions, credit backstops, and monetary easing the U.S. central bank has unleashed in the past month to contain the economic damage caused by the pandemic.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold price aims for highest since 2011 as dollar slumps and corporate earnings get under wayGold futures on Tuesday headed higher, gaining support from concerns about weakness in the global economy as well as corporate quarterly results due the cessation of business activity intended to stem the spread of COVID-19.
Read more »
Dollar inches lower as investors brace for Chinese trade dataThe dollar inched lower on Tuesday, but gains in riskier currencies were capped as traders fretted about company earnings and braced for Chinese trade data likely to show the sweeping impact of the coronavirus health crisis on economic activity.
Read more »
Pandemic or not, cheaper dollar hedging to bolster U.S. inflowsThe coronavirus pandemic has slashed costs for foreign investors seeking to neutralize the currency exposure of owning dollar-denominated assets, making U.S. securities more attractive and providing additional boost for the nation's fixed income market.
Read more »
Hard-Hit Spain Tries A Gradual Easing Of Its Coronavirus LockdownThe move allows some businesses that can't operate remotely to re-open, even as most citizens remain under stay-at-home orders. But critics warn it may be too soon to let up.
Read more »
Spain split between concern and relief as coronavirus lockdown easedThe construction sector across Spain and other industries in Catalonia and the Basque Country went back to work on Tuesday, after the government eased one of the world's toughest coronavirus lockdowns as the pace of new infections slowed.
Read more »
Europe begins tentative easing of coronavirus lockdownA handful of EU countries are beginning to ease lockdown restrictions — but not everyone's happy
Read more »