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Yen drops, US dollar on defensive as central banks seek to reassure markets
Currency markets showed some cautious optimism after global authorities moved to stem contagion from a simmering banking crisis, with the safe haven dollar on the back foot and the yen tumbling amid a rebound in Treasury yields. The risk-sensitive Australian dollar jumped to a two-week high, while the euro edged higher for a third straight day. Over the weekend, the Federal Reserve, European Central Bank, Bank of England, Swiss National Bank, Bank of Canada and Bank of Japan announced joint action to enhance market liquidity. That followed Swiss authorities' negotiation of a buyout of Credit Suisse by UBS, but at a ... (full story)
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- Posted: Mar 19, 2023 11:03pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 1,411
