The dollar was on track for its biggest weekly decline in more than a decade on Friday, as trillions of dollars worth of stimulus efforts by governments and central banks helped temper a rout in global markets triggered by the coronavirus pandemic.
The dollar had been riding high in March amid a drive for dollars by investors trying to get their hands on the world's most liquid currency, and one considered a safe haven.
But big government spending pledges, including a $2.2 trillion U.S. package, and co-ordinated efforts by central banks around the world to increase the supply of dollars have supported a rally in other major currencies.
The dollar consolidated losses on Friday, edging up 0.2% on the day against major currencies, but was still on course for a near 3% fall for the week - its biggest decline since May 2009.
Against the yen, the dollar fell 0.7% on Friday to 108.855 yen as Japanese investors and companies repatriated funds before their fiscal year ends next week. The euro ticked down 0.2% to $1.10080 but was still on track for an almost 3% gain over the dollar this week.
03 Jun 2020 11:45 AM
Indian shares extended gains for a sixth session and the Nifty crossed the 10,000 mark for the first time since March 13, as Asia's third-largest economy gradually comes out of COVID-19 lockdowns and risk appetite picks up in global markets.
03 Jun 2020 11:16 AM
The yuan took a breather on Wednesday after strengthening against the dollar for four straight days
03 Jun 2020 10:45 AM
Gold traded steady on Wednesday after snapping a three-session winning streak in the previous day, as a rally in equity markets on hopes of more stimulus offset some support from a weaker dollar.
03 Jun 2020 10:32 AM
Indian rupee hit the highest level in five weeks and was at 75.23/75.24 to the dollar against 75.3625/75.3725 in the previous session
03 Jun 2020 09:45 AM
Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic.
03 Jun 2020 09:15 AM
The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened investors