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Stock impact report

Dollar down on chances for more Fed easing, anti-virus drug trial [Reuters]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Dollar down on chances for more Fed easing, anti-virus drug trial TOKYO (Reuters) - The dollar fell on Thursday after the U.S. Federal Reserve left the door open to more monetary easing and dampened expectations for a quick economic recovery from the coronavirus crisis. The greenback also pulled back on signs the pandemic is receding in other countries and on reduced safe-haven demand for holding funds in dollars. Positive trial results for a drug to treat COVID-19 also boosted the appetite for riskier assets. The euro edged lower before a European Central Bank meeting later on Thursday where policymakers are likely to expand debt purchases to include junk bonds and take other steps to ease conditions in credit markets. China’s currency hit a two-week high on hopes over the potential virus treatment. Data also suggests the world’s second-largest economy is starting to slowly recover from the coronavirus-driven dive in activity even though the path ahead appeared bumpy. More countries Show less Read more
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