The dollar resumed its descent against the safe-haven Japanese yen and the Swiss...
The dollar had jumped on Tuesday as investors hoped global monetary policymakers will launch further stimulus plans aimed at bolstering economies hit by trade and travel disruptions.U.S. President Donald Trump said on Tuesday he will ask Congress for a payroll tax cut and other “very major” stimulus moves, but the details remain unclear.
“In addition to economic measures, the focus will be on how much the U.S. can contain the infections to keep the economy going. That is a very big unknown,” he said. Investors are also expecting the U.S. Federal Reserve to cut interest rates by at least 0.5 percentage point at its policy review next week, in addition to its emergency rate reduction earlier this month.
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