Updated: Mar 18
The U.S. dollar surged in the session as the markets continue to hint for safety in the most liquid currency. There are still growing concerns around several companies and country shutdowns from the coronavirus, denting risk appetite.
In comparison to its peers, the United States remains a more stable economy to back for now. There are very reassuring efforts from the central bank and U.S. government, in an attempt to cushion the economic damage.
The announced the re-launching of its Commercial Paper Funding Facility, something that was created by the central bank during the Global financial crisis of 2008 to improve liquidity in the short-term funding markets.
It provides greater credit for the markets, so things do not tighten too much on the lending side of things. Businesses and also in turn families will have credit more readily available to them in a time of need.
Elsewhere, Trump is pushing very hard and leading Republicans to get the Senate to swiftly back a House-passed coronavirus aid plan and seriously consider massive new economic stimulus legislation.
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