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Stock impact report

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

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Dollar weaker on chances for more Fed easing, anti-virus drug trial TOKYO (Reuters) - The dollar nursed losses 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 pandemic. The greenback was also weighed down as signs the pandemic is receding in other countries and 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 held steady 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 as data suggests the world’s second-largest economy is recovering from a steep decline in activity caused by the pandemic. More countries are taking steps to re-open their economies as coronavirus infections slow, giv Show less Read more
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