Yen ticks down in choppy market, sentiment still fragile

TOKYO - The safe-haven Japanese yen ticked down and some risk currencies won a brief reprieve on signs of more economic support from policymakers, though choppy conditions on Tuesday underlined fragile confidence in markets frazzled by days of turbulence.

New Zealand said it would pump NZ$12.1 billion , or 4% of gross domestic product, into the economy to slow a contraction expected from business disruptions caused by the coronavirus outbreak. As a result, trading in most markets including foreign exchange is being driven more by loss-reduction and other position unwinding to reduce risks or make up for losses, rather than fresh bids, market players said.

The British pound is also under pressure, dogged by worries about not only Britain’s exit from the European Union but also its sizable current account deficit., down 0.2% and near a five-month low of $1.2203 hit in the previous session.MSCI emerging market currency index .MIEM00000CUS dropped 0.2%, staying at its lowest level since late 2018.

Looks like they're ready to put that bill to good use...

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

This is a wounded, fragile stock market raging for a proper policy responseCNBC's Michael Santoli surveys the market wreckage. Maybe people need to understand that tax cuts and monetary stimulus is not the answer right now. Seeing the virus cases decline and people going back to their normal lives will be what causes the market to find a bottom. Certainly not politicians. This market has been shot and its in the emergency room next to someone who has covid-19 Such as?
Source: CNBC - 🏆 12. / 72 Read more »

Plunging stock market futures hit 'limit down' — Here's what that meansContracts on the S&P 500 dropped 5%, reaching a 'limit down' band that made by the CME futures exchange to prevent further losses. I'm confused on the FUTURES limit down. Could you please explain that for the novice. Thank you.
Source: CNBC - 🏆 12. / 72 Read more »