KONTAN.CO.ID - TOKYO. The dollar held onto gains against major currencies on Thursday after U.S. Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers will adopt negative interest rates. The Australian dollar was under pressure before closely-watched data on the jobs market, which may help determine how much more monetary and fiscal easing is necessary to support the economy. The focus will shift to economic data from the United States and Europe in the next two days for more clues on the depth of the downturns there, while investors will closely watch China activity gauges for signs on how long it may take to emerge from the sharp shock caused by the coronavirus outbreak.
Dollar holds advantage as Jerome Powell quashes negative rates, data in focus
KONTAN.CO.ID - TOKYO. The dollar held onto gains against major currencies on Thursday after U.S. Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers will adopt negative interest rates. The Australian dollar was under pressure before closely-watched data on the jobs market, which may help determine how much more monetary and fiscal easing is necessary to support the economy. The focus will shift to economic data from the United States and Europe in the next two days for more clues on the depth of the downturns there, while investors will closely watch China activity gauges for signs on how long it may take to emerge from the sharp shock caused by the coronavirus outbreak.