Dollar eases after sharp drop as greenback funding remains secured


SINGAPORE- The dollar reversed from underperformance and clocked in minimal gains on Wednesday as growing coronavirus statistics made investors wary. 

Asian boards are fluctuating but currency movements were cautious compared to large volume of earnings monitored in stock markets. Such was from investors’ optimism over the possibility of a US stimulus package. 

The sought-after dollar shed 0.3% versus euro, equivalent to $1.0814. Against the Japanese yen, it stood at 110.97 yen per dollar.

Other currencies were greatly affected by last week’s resort to greenback but they managed to gain momentum by acquiring large overnight earnings, with biggest decliners easing slightly.

The British pound GBP=D3 advanced 0.4% while Australian dollar AUD=D3 clocked in 0.5%. Both declined more than 5% the previous week and recorded milestone underperformance.

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