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U.S. dollar falls after Fed cuts rates to near zero

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U.S. dollar falls after Fed cuts rates to near zero

 

2020-03-15T214219Z_1_LYNXMPEG2E0ZX_RTROPTP_4_GLOBAL-FOREX.JPG

FILE PHOTO: One hundred dollar notes are seen in this photo illustration at a bank in Seoul, South Korea, January 9, 2013. REUTERS/Lee Jae-Won/Illustration/File Photo

 

NEW YORK (Reuters) - The dollar extended losses against the yen and turned negative against the euro on Sunday after the Federal Reserve cut interest rates to near zero percent in an emergency move amid the economic impact of the coronavirus outbreak.

 

The U.S. Federal Reserve cut interest rates for the second time in less than two weeks on Sunday, reducing to a target range of 0% to 0.25%.

The dollar fell 1.1% against the yen to 106.80 yen <JPY=EBS>, while the euro rose 0.3% to $1.1146 <EUR=>.

 

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Daniel Wallis)

 

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-- © Copyright Reuters 2020-03-16

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I'm sure Boris Johnson will stub his toe or sneeze later and the pound fall to another all time low against the $

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As of 12:33 PM March 16th the Baht is down to the US dollar

USDTHB

US Dollar/Thai Baht FX Spot Rate

31.98
+0.17+0.53%

 

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3 hours ago, Isaan sailor said:

Today USD rose vs Baht.  So not weak everywhere.  Never thought I’d welcome 31.94–but USD hammered down for so long, things look a little better now.

For those who live in Thailand but get their income from the USA, this is good news. But given Thailand's tiny share of the world economy, not significant in respect to how the financial world views the effect of those rate cuts.

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32.02 on USD.  Methinks someone’s too busy with Wuhan virus containment, to continue slamming the USD down...

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Posted (edited)

Don't care about the € nor ¥...฿32.13 now to $. GO!!! ⬆️

Edited by Skeptic7
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After flu season passes Slash the Bhat and save tourism

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I just stay at home here and keep transferring small USD amounts to my Thai bank each time the baht weakens. No mask required. 

 

"Look on the bright side of Life" 

 

 

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5 hours ago, Isaan sailor said:

32.02 on USD.  Methinks someone’s too busy with Wuhan virus containment, to continue slamming the USD down...

Because the Chinese want to make their goods less competitive?

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The Fed moves and government infusion are short-term actions to prop up Wall Street and a faltering economy in hopes the virus will ease during summer and won't kick back in, along with a resulting stock crash, until after the election. If it doesn't work they will blame Obama. Win Win.

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As of 3/17/2020  1USD =32.27 baht

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