Sterling knocked back by BoE cut, dollar eases against safe-haven currencies

Wednesday, 11 March 2020 15:47 WIB



The British pound erased early gains after an unexpected interest rate cut by the Bank of England on Wednesday, while the dollar resumed its descent against the safe-haven Japanese yen and Swiss franc on fears over the spreading coronavirus.

Sterling last traded at $1.2873, almost flat on the day but tumbled from the day's high of $1.2937 after the Bank of England cut its policy rate for the first time since August 2016, by 0.5 percentage point to 0.25%.

The BoE’s move comes as a number of central banks and governments around the world stepped up efforts to shore up their economies from the economic impact of the coronavirus epidemic.

The recovery in safe-haven currencies mirrored falls in U.S. equity futures and U.S. bond yields in Asian trade on Wednesday, as the spread of the virus in major economies threatens to brake business activity and curb consumer spending.

The dollar lost 0.9% to 104.67 yen, down more than a full yen from Tuesday's high of 105.915.

Source : Reuters


  • The dollar paused on Friday as concerns about a surge in coronavirus infections in the United States and elsewhere supported the safe haven Japanese yen, while risk-sensitive currencies lost ground. ...



Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.