(Bloomberg) — The dollar weakened after the Federal Reserve slashed U.S. interest rates to zero, in a shock move aimed to cushion the world’s largest economy from the impact of the coronavirus.The Federal Reserve on Sunday cut its benchmark rate by a full percentage point to near zero and will boost its bond holdings by $700 billion. The central bank also announced several other actions, including letting banks borrow from the discount window for as long as 90 days and reducing reserve requirement ratios to zero percent.The New Zealand dollar was lower following that country’s emergency interest-rate cut earlier. Europe …read more
Source:: Yahoo Finance
