Thursday, 28 May 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Yen, euro gain on dollar as Fed rate cut talks heat up
Monday, 2 March 2020 08:18 WIB | CURRENCIES | Euro YenCurrency

The yen and the euro rose against the dollar on Monday on growing expectations that the U.S. Federal Reserve will cut interest rates at its policy review this month to protect the economy from the rapid spread of the coronavirus.

As U.S. shares were routed in recent days, Federal Reserve Chair Jerome Powell said on Friday the central bank will œact as appropriate to support the economy in the face of risks posed by the coronavirus epidemic.

Investors took his comments as a hint that the Fed will cut interest rates by at least 0.25 percentage point at its next scheduled meeting on March 17-18.

The yen rose to as high as 107.00 to the dollar in early Monday trade and last stood at 107.75 yen up 0.3% from its levels in New York late on Friday.

The Japanese currency had risen 3.2% last week, the biggest gain since July 2016. Japan's current account surplus and the yen's vast liquidity make the yen behave like safe haven asset.

The euro stood at $1.1042 up 0.14% so far in Asia, trading near its highest level in almost a month after a 1.7% gain last week, the largest in two years.

Source : Reuters

RELATED NEWS
Euro Rallies on EU Recovery Fund Proposals, Yuan Falls...
Wednesday, 27 May 2020 18:55 WIB

The euro headed towards a two-month high on Wednesday after the European Commission proposed a coronavirus economic recovery package worth in total 1.85 trillion euros ($2.04 trillion). The euro has ...

Dollar gains and yuan hits nine-month low as U.S.-China tensions return...
Wednesday, 27 May 2020 15:17 WIB

The U.S. dollar edged higher on Wednesday and China's yuan hit a near nine-month low as worries about the U.S. response to China™s proposed security law for Hong Kong injected a more cautious tone i...

Dollar Edges Higher As U.S.-China Worries Resurface...
Wednesday, 27 May 2020 08:27 WIB

The dollar edged higher on Wednesday as worries about the U.S. response to China™s proposed security law for Hong Kong supported safe-haven demand for the greenback. The euro held gains against the...

Euro, riskier currencies buoyed as investor sentiment improves...
Tuesday, 26 May 2020 15:22 WIB

The euro got a boost on Tuesday from a weaker dollar as growing optimism about a global recovery from the COVID-19 pandemic supported riskier currencies. The moves, however, lacked the exuberance of ...

Dollar Dips As Virus Recovery Optimism Holds...
Tuesday, 26 May 2020 09:18 WIB

The dollar inched lower on Tuesday as growing optimism about a global recovery from the COVID-19 pandemic supported riskier currencies, though concerns about Sino-U.S. tensions held further moves in c...

LATEST NEWS
Hong Kong stocks finish on a low (Review)

Hong Kong shares ended with losses Wednesday as traders fret over protests in the city, fearing a repeat of the violence that hit the economy last year as well as rising China-US tensions. The Hang Seng Index fell 0.36 percent, or 83.30 points, to...

Dow Ends 550 Points Higher as Rotation Into Cyclical Stocks Picks Up Pace

Stocks ended sharply higher Wednesday, with the Dow Jones Industrial Average closing back above the 25,000 level and the S&P 500 ending above 3,000 as the industrial and financial sectors led the way. The move continued a rotation that has...

Oil drops more than 4% in second negative session in three on U.S.-China tensions

Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China™s proposed security law in Hong Kong and as some traders doubted Russia™s commitment to deep production cuts. Brent crude fell...

POPULAR NEWS
Gold Flat As Hong Kong Concerns Offset Reopening Optimism
Wednesday, 27 May 2020 09:45 WIB

Gold traded flat on Wednesday as concerns about the U.S. response to China™s proposed security law for Hong Kong countered optimism about a...

Gold Falls as Potential Japan Stimulus Boosts Risk Appetite
Monday, 25 May 2020 15:13 WIB

Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors™ risk appetite, though fresh...

Gold Edges Lower, Losing Shine as Stocks Rally on Easing Lockdowns, Vaccine Hopes
Tuesday, 26 May 2020 19:20 WIB

Gold futures lost some ground Tuesday as global equities rallied in response to easing business lockdowns as the pandemic recedes and encouraging...

Gold falls 1% as risk appetite firms on recovery optimism
Wednesday, 27 May 2020 01:32 WIB

Gold fell over 1% on Tuesday as major economies further eased coronavirus-linked restrictions, fuelling hopes for economic recovery and bolstering...