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US dollar weakens after Fed's unlimited QE policy
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IANS | 25 Mar, 2020
The US dollar declined in late
trading on Tuesday after the Federal Reserve offered unlimited
quantitative easing (QE) policy and other measures.
The dollar index, which measures the greenback against six major peers, decreased 0.42 per cent at 102.0339 in late trading.
In
late New York trading, the euro rose to $1.0757 from $1.0733 in the
previous session, and the British pound rose to $1.1748 from $1.1528 in
the previous session. The Australian dollar rose to $0.5912 from
$0.5792, Xinhua reported.
The US dollar bought 111.46 Japanese
yen, lower than 111.50 Japanese yen of the previous session. The US
dollar decreased to 0.9831 Swiss franc from 0.9840 Swiss franc, and it
decreased to 1.4492 Canadian dollars from 1.4522 Canadian dollars.
"The
Fed's decisive action is showing an effect," as it increased its
interventions package and got out "the heavy artillery," Thu Lan Nguyen,
analyst at Commerzbank Research, said in a note on Tuesday.
The
US central bank announced on Monday a plan to purchase US treasuries
and agency mortgage-backed securities with no limit to help markets
function more efficiently amid coronavirus uncertainty.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
|
64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 06 Jun, 2020 |
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