This Week Highlight - Dollar Flies High Again!
Since mid february to early March, the US Dollar (USDX) fell sharply from 99.50 high to 94.50 bottom after the pandemic outbreak caused the Dow market to plummet. The unprecedented rate cut in FED policy from 1.5 percent right down to Zero percent now has effectively slash the Dollar strength! In an unanimous efforts by all other major central banks. the European Central Bank rolled out EUR750 billion of stimulus package to support market securities following the U.S. FED action. Meanwhile, Bank of England also cut the benchmark rate to 0.1 percent in 2 times within a month and also increased the asset purchase program to GBP645 billion. In Japan, the central bank injected USD137 billion equivalent in Yen to support the Nikkei market while PM Abe has vowed to lift the recovery in greater efforts than the Lehman crisis erupted in 2008! On top of all these spontaneous stimuli, the Int'l Monetary Fund vows to standby EUR50 billion fund to aid those needy countries to fight th