March 15, 2020 / 9:19 PM / 17 days ago

FOREX-U.S. dollar falls after Fed cuts rates to near zero

NEW YORK, March 15 (Reuters) - The dollar extended losses against the yen and turned negative against the euro on Sunday after the Federal Reserve cut interest rates to near zero percent in an emergency move amid the economic impact of the coronavirus outbreak.

The U.S. Federal Reserve cut interest rates for the second time in less than two weeks on Sunday, reducing to a target range of 0% to 0.25%.

The dollar fell 1.1% against the yen to 106.80 yen , while the euro rose 0.3% to $1.1146. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Daniel Wallis)

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