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.
15 Jul 2020 04:54 PM
Indian shares pared nearly all gains on Wednesday, as Reliance Industries weighed on indexes after it failed to meet investor expectations at its annual general meeting, while a surge in IT stocks capped losses.
15 Jul 2020 03:22 PM
The Indian rupee logged its best day against the dollar in nearly two weeks
15 Jul 2020 12:23 PM
Indian shares jumped over 1.5% on Wednesday as upbeat results for IT outsourcer Wipro and signs of new foreign investment inflows countered fears about the surge in domestic coronavirus cases.
15 Jul 2020 11:15 AM
China's yuan firmed on Wednesday on dollar weakness overnight and a stronger fixing
15 Jul 2020 10:46 AM
Gold prices edged higher on Wednesday, holding firm above the psychological $1,800 level, as worries over surging coronavirus cases and simmering U.S.-China tensions boosted demand for the safe-haven metal.
15 Jul 2020 10:33 AM
The Indian rupee was at 75.3000/75.3100 to the dollar against 75.4150/75.4250 in the previous session