The dollar fell to a one-month low on Thursday after the Federal Reserve reassured that a rate hike was still a long way off, giving a major boost to most other currencies from the Australian dollar to the Chinese yuan.<\/p>\n\n\n\n
China’s efforts to calm stock market jitters precipitated by its own regulatory crackdown on some sectors also helped, as the yuan rose for the second day in a row, touching a one-week high against the dollar.<\/p>\n\n\n\n
The dollar’s month-long gains had already lost momentum ahead of Wednesday’s Fed meeting, and Fed Chair Jerome Powell’s statement that an interest rate increase was “a long way off” was enough to push him lower.<\/p>\n\n\n\n
US Treasury yields trended lower after the statement, and during Thursday, the yield on the 10-year bonds fell further and the real yield, adjusted for inflation, fell to a new record low of about -1.175%.<\/p>\n\n\n\n
The dollar fell 0.2% at 11 GMT against a basket of currencies at 92.05, falling for the fourth consecutive day.<\/p>\n\n\n\n
The Australian and New Zealand dollars, which depend on economic growth in the world and China, extended their gains on Wednesday, adding more than 0.4%, but the Australian dollar was curbed by concerns about the length of the general isolation measures aimed at combating the Coronavirus in Sydney, which will cast a shadow on the economy. country.<\/p>\n\n\n\n
The Canadian dollar also rose as much as 0.6% to a two-week high.<\/p>\n\n\n\n
The British pound touched a one-month high of $1,397. The British currency was rising thanks to optimism about the reopening of Britain’s economy.<\/p>\n\n\n\n
The yuan rose in offshore trading by 0.4%, and the index of emerging market currencies hit a two-week high, adding 0.6%.<\/p>\n","protected":false},"excerpt":{"rendered":"
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