FX Update: The killer dollar again again
The roll into a new quarter is seeing an apparent hangover from end-of-quarter rebalancing and a fresh surge in the US dollar, which has even come back against a likewise strong Japanese yen overnight. This despite yet another Fed facility announced yesterday, this time to offer repos of treasuries in exchange for USD to global central banks.
Market Quick Take - April 1, 2020
Markets are soft overnight after a choppy last-day-of-the-quarter session yesterday that failed to take out key resistance levels. The USD traded softer after the Fed announced yet another initiative yesterday, this time a repo facility with foreign central banks allowing them to swap treasuries for US dollars.