Dollar climbs down as panic subsides, on course for biggest loss in decade
Friday, 27 March 2020 08:19 WIB | CURRENCIES |PoundsterlingAussieDolar AS Euro Yen

The dollar is on track for its biggest weekly fall in more than a decade on Friday as a series of stimulus steps around the world, including a $2.2 trillion U.S. package, calmed a panic over a global recession following the coronavirus outbreak.

Data showing an unprecedented rise in U.S. jobless claims underscored the virus' devastating impact on the economy, but subsequent rise in Wall Street shares raised hopes a torrent of selling in risk assets may have run its course for now.

The dollar dropped to 109.42 yen , shedding 1.44% overnight while the euro also jumped 1.40% on Thursday and last stood at $1.1025.

The biggest mover among major currencies was sterling, which rose 2.8% overnight before giving up part of that gain in early Asian trade. The British pound last stood at $1.2183 .

An easing in dollar funding conditions is helping to reduce demand for the dollar.

The number of Americans filing claims for unemployment benefits surged to a record of more than 3.28 million last week as strict measures to contain the coronavirus pandemic unleashed a wave of layoffs.

While that eclipsed the previous record of 695,000 set in 1982 and was up 3 million from last week, it was below investors' worst fears.

The focus stayed on an unprecedented $2.2 trillion stimulus expected to be approved by the U.S. House of Representatives on Friday.

The dollar's index against six other major currencies lost 1.5%, its biggest daily fall in almost four years.

The Australian dollar traded at $0.6068 , having gained more than 10% from its 17-year low of $0.5510 touched on Thursday last week.

The New Zealand dollar stood at $0.5974.

Source : Reuters

RELATED NEWS

Sterling Drops as British Firms Suffer Record Slump
Friday, 3 April 2020 23:26 WIB

Sterling sank on Friday after data showed a record slump among Britain's services and manufacturing firms in late March as businesses and households paused activity to try to prevent the spread of the coronavirus. Sterling was last down 1.5% at $1.2205, having fallen earlier to its weakest level si...

Dollar Still in Demand, For Now
Friday, 3 April 2020 15:17 WIB

The dollar was in demand in early trading in Europe on Friday, as investors sought safety following the dire U.S. unemployment figures which illustrated the extent of the economic fallout from the coronavirus pandemic. At 3:05 AM ET (0705 GMT), the U.S. Dollar Index, which tracks the greenback agai...

Dollar strength consolidates as global recession looms
Friday, 3 April 2020 08:50 WIB

The dollar edged toward an almost 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic. The gains consolidate the dollar™s strength after a topsy-turvy end to last month, which had the dollar...

Sterling Hits 3-Week High against Euro, Flat vs Dollar
Thursday, 2 April 2020 23:39 WIB

Sterling hit a three-week high versus the euro on Thursday and held recent gains versus the dollar, as the British currency was swept up in global market swings that weakened the euro broadly. The pound has rebounded in recently after crashing amid coronavirus-driven panic in global markets last mo...

Dollar Edges Lower; Petro Currencies Gain on Trump Comments
Thursday, 2 April 2020 15:24 WIB

The dollar edged lower in European trading Thursday, with investors seemingly prepared to move out of the safe haven into riskier currencies ahead of key U.S. unemployment data. At 3 AM ET (0700 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood ...

ANOTHER NEWS
Hong Kong Stocks Head Into Weekend With a Loss (Review)
Saturday, 4 April 2020 03:25 WIB Hong Kong shares finished Friday with losses, in line with an Asia-wide sell-off, after data showed a massive 6.7 million Americans last week applied for unemployment benefits as the coronavirus shatters the global economy. The Hang Seng Index...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.