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FOREX-Dollar posts biggest weekly fall since 2009
The dollar posted its biggest
weekly decline in more than a decade on Friday, as trillions of
dollars worth of stimulus efforts by governments and central
banks helped temper a rout in global markets driven by the
The dollar surged in March as tumbling stock and debt
markets caused a scramble for the world’s most liquid currency.
But big government spending pledges and coordinated efforts
by central banks around the world to increase the supply of
dollars have supported a rally in other major currencies.
The U.S. House of Representatives on Friday approved a $2.2
trillion aid package – the largest in American history – to help
people and businesses cope with the economic downturn inflicted
by the coronavirus outbreak.
The dollar dipped 0.87% against a basket of currencies
Friday to 98.41. It fell 3.90% this week – its biggest