Risk currencies ease, yen firms as investors brace for global downturn
but gained against most other currencies as its vast liquidity is attractive at times of economic stress.
The dollar held beneath overnight highs against most majors and was well below multi-year peaks made last month, before the Fed pumped more dollars into the system to calm markets. “The Fed clearly wants to do everything it can necessary to ensure dollar liquidity, which puts downward pressure on the dollar,” he said.
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