Tuesday, 26 May 2020
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Dollar Shines as Pandemic Drives Rush for Liquid Assets
Friday, 13 March 2020 08:35 WIB | CURRENCIES |Dolar AS Indeks DolarDOLLAR

The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed investors by not cutting rates.

The greenback held gains against most currencies after a blowout in swap spreads showed investors are facing a shortage of dollars as equity markets plunged on fears about the economic impact of the flu-like virus.

The ECB on Thursday unveiled a stimulus package that provides loans to banks with rates as low as minus-0.75% and increases bond purchases. The euro traded at $1.1181, following a 0.72% decline on Thursday in the wake of the ECB decision. For the week the common currency was on course for a 0.9% decline. Against the pound the dollar eased slightly to $1.2585 in Asia on Friday, but that followed its biggest one-day gain against sterling since July 2016.

The greenback was also strong against the Swiss franc, trading at 0.9450 following a 0.7% gain on Thursday.

Source : Reuters

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