The dollar is on track for its biggest weekly drop in more than ten years today, Friday, if stimulus trillions of dollars by governments and central banks help calm chaos in the global markets caused by the Corona virus.
Friday, April 10, 2020
The dollar is headed for the largest weekly decline in ten years:
The dollar is on track for its biggest weekly drop in more than ten years today, Friday, if stimulus trillions of dollars by governments and central banks help calm chaos in the global markets caused by the Corona virus.
The dollar rose in March in light of the trend towards the US currency by investors who were seeking to obtain the world's most liquid currencies, which are considered a safe haven.
But pledges of major government spending, including a US $ 2.2 trillion package, and coordinated efforts by central banks around the world to increase the dollar’s supply supported a rise in the rest of the major currencies.
The Saudi Arab King Suleiman holds a joint phone conversation with the American President and the Russian President:
A joint telephone conversation took place between the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him - and His Excellency President Donald Trump, President of the United States of America, and His Excellency President Vladimir Putin, President of the Russian Federation.
During the call, the efforts made were reviewed in light of the meeting of the OPEC group and the importance of joint cooperation between producing countries to maintain the stability of energy markets to support the growth of the global economy.
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