The dollar recovered slightly on Tuesday from heavy losses against the yen, the ...
TOKYO - The dollar recovered slightly on Tuesday from heavy losses against the yen, the euro and the Swiss franc, supported by hopes for U.S. economic stimulus and a bounce in Treasury yields.
The greenback started to grind higher as U.S. stock futures rose after U.S. President Donald Trump said the White House will hold a news conference on Tuesday about economic measures in response to the coronavirus outbreak. However, analysts say it is too early to call a bottom in the dollar, which was pummelled on Monday after a price war between Saudi Arabia and Russia triggered the biggest daily rout in oil prices since the 1991 Gulf War.
Oil futures also stabilised somewhat in Asia on Tuesday after the previous day’s dive, as global markets tried to regain some composure, but many traders warn that recent turmoil has been so dramatic that risks are still tilted down.
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