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Dollar Resumes Descent Against Safe-Haven Currencies in Volatile Trade


Wednesday, 11 March 2020 08:24 WIB

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The dollar resumed its descent against the safe-haven Japanese yen and Swiss franc on Wednesday after a rebound the previous day as nervous sentiment over the coronavirus epidemic persisted.

The moves mirrored falls in U.S. equity futures and U.S. bond yields in early trade in Asia on Wednesday, with most investors still on the sidelines even after risk assets made some recovery on Tuesday on hopes governments will take measures to ease the economic pain from the epidemic.

Against the yen, the dollar lost 0.6% to 104.98 yen, down almost a full yen from Tuesday's high.

The Swiss franc also gained 0.25% to 0.9369 franc per dollar while the euro stood at $1.1304, up 0.21% so far in Asia.

Source : Reuters


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