Dollar rebounds, yen drops, as traders cling to stimulus hopes [Reuters]
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Source: Reuters
Dollar rebounds, yen drops, as traders cling to stimulus hopes LONDON (Reuters) - The dollar rebounded on Tuesday afters huge losses against the yen, the euro and the Swiss franc, as investors turned hopeful that global policymakers would introduce stimulus to cushion the economic impact of the coronavirus outbreak. The moves helped reverse Monday’s gyrations, although at 104 yen per dollar the Japanese currency was not back above the 105 seen before this week. The dollar started to rise as U.S. stock futures rose and bond yields gained, after U.S. President Donald Trump said he would hold a news conference on Tuesday about economic measures in response to the virus. U.S. Treasury Secretary Steve Mnuchin also said the White House would meet with bank executives this week in a sign the U.S. government would roll out measures to cope with the virus. Analysts said it was too early to call a bottom in the dollar, which plunged on Monday after a price war between Saudi Arabia and Russia tr
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