FOMC: Stimulus package would help a faster than expected economic recovery
FOX Business’ Edward Lawrence on FOMC meeting regarding the impact of the coronavirus stimulus on economic recovery.
SINGAPORE - The safe-haven dollar and yen nursed losses on Thursday, after the revival of hopes for some U.S. spending improved investor sentiment and appetite for riskier currencies.
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A flurry of late-Tuesday tweets from President Donald Trump, after he canceled talks with Democrats over coronavirus relief, suggested he was open to piecemeal spending measures.
That lifted equity markets and commodity currencies and sank the safe-haven yen to a three-week low of 106.11 per dollar overnight. The dollar was weaker on most other majors.PELOSI: ALL TRUMP WANTED IN CORONAVIRUS RELIEF NEGOTIATIONS WAS ‘TO SEND OUT A CHECK WITH HIS NAME ON IT’
The euro edged up 0.2% to $1.1767 and held there early in the Asia session. The risk-sensitive Australian dollar lifted off a one-week low and rose about 0.5% overnight to hold at $0.7137 in Asia. [AUD/]
With no fresh clues on stimulus, morning moves were slight and leaned in favor of the greenback. The New Zealand dollar slipped 0.4% after a central bank official said the bank was “actively working” on negative rates.