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Dollar Thrives, Aussie Trampled In Rush For Liquidity
Wednesday, 18 March 2020 08:23 WIB | CURRENCIES |AussieDOLLAR

The dollar held overnight gains against most major currencies on Wednesday, after U.S. yields jumped and as deepening fear around the coronavirus drove a scramble for greenback.

The pound and safe-haven yen made the best efforts at recovery, but only managed to recoup fractions of their losses.

The yen was last up 0.3% at 107.37 per dollar, the pound up 0.5% at $1.2108 and the euro (EUR=) was steady at $1.1000. Commodity-sensitive currencies, like the Aussie and kiwi, were trampled below $0.60 in the stampede.

All are well below where they were a week ago as investors sell just about everything for dollars and businesses seek to draw down loans and hoard cash to ride out the crisis.

The Australian dollar has made its first trip under 60 cents since 2003 and last sat at $0.5998, while the kiwi was at $0.5955. The Australian dollar has lost nearly 15% against the greenback this year.

Source : Reuters

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