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

 

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)

 

-- © 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 $

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.

33 minutes 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.

Just wait a few days, things don't always happen immediately.  Of course the Thai Central Bank could cut their rates further, which would help the USD. 

49 minutes 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.

We use USD here in Cambodia, and everything still costs a dollar.

1 hour ago, Nyezhov said:

We use USD here in Cambodia, and everything still costs a dollar.

But the portion are 15% smaller? ????

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%

 

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.

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

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

Edited March 16, 20206 yr by Skeptic7

After flu season passes Slash the Bhat and save tourism

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" 

 

 

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?

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.

As of 3/17/2020  1USD =32.27 baht

Yes, well at 10:20 A.M. CDT, 17 March,  U.S. the exchange rate for the $ is 1.0974 Euro, 1.207 for Pound, and Yen at 107.3. There has been a lot of volatility, anyone could have a bad day. 

 

I agree with the others, I just move more dollars to the Thai bank when favorable.

On 3/16/2020 at 10:27 AM, 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.

Must be all that hot money coming into BoT from China hey? ????

Are the toilets and taps in her area all fully functional with plenty of hand sanitizer and  working hand dryers, I doubt it. And if they are, they wouldnt have been last week. !

Edited March 17, 20206 yr by les Dennis
Wrong thread

On 3/16/2020 at 9:00 PM, bristolboy said:

Because the Chinese want to make their goods less competitive?

He doesn't understand that RMB is pegged to the $. There's only a two point window.

 

I must have told him three thousand times. Incidentally the Shanghai exchange was up 0.3% today. The only market in the world to show an increase.

On 3/17/2020 at 10:15 PM, Tony125 said:

As of 3/17/2020  1USD =32.27 baht

As  of 3/18/2020  $1 = 32.50 Thai Baht    Dollar rising against the baht

On 3/16/2020 at 5:35 AM, Tony125 said:

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%

 

Pound crashing though as we spend to the moon...

9 minutes ago, URMySunshine said:

Pound crashing though as we spend to the moon...

GBP in freefall...........37.66

31 minutes ago, dode57k said:

GBP in freefall...........37.66

We are printy printy our way out off this but we don't have the luxury of a global reserve currency hence our money grows ever worthless. By the time we finally lick this virus we will be basically bankrupt - god knows what that will mean but I expect Greek style austerity measures. Stockpiling good value supermarket wine now as that can only be more scarce and increase in price in the future - oh and spirits. Shall be able to barter when the pound is toilet paper ! A good merlot for 1kg of bacon ? Thinking a new Rolex maybe better than money in the bank and my wife agrees !

Edited March 18, 20206 yr by URMySunshine