The Dollar Rises as Stocks Collapse Distressed Investors
The Dollar was up on Thursday morning in Asia with the U.S. Shares fell hard on the previous session. Investors are moving towards the safe-harbor asset as more worried about extra valuation residue.
The USD/JPY edged up 0.17% to 104.27,
The dollar was at $1.2102 against the euro.
The sterling declined to $1.3675, GBP/USD pair inched down 0.03%
The AUD/USD pair edged down 0.16% to 0.7650
The NZD/USD pair slightly down 0.9% to 0.751
The first policy meeting of the US federal reserve enclosed that its bond purchase program and benchmark interest rate will remain the same that brings the dovish message by accepting recent moderation in the economic activity and calling for higher inflation. Mentioned by BK Asset Management’s Kathy Lien.
The Fed Chairman Mr. Jerome Powell said they are far from meeting the Inflation and employment goals.