The U.S. Federal Reserve said it would take step to bolster the economy and pass a stimulus package to offset the pandemic economic impact.
The dollar erased early losses on Monday as a global selloff intensified, boosting greenback’s safe-haven appeal.
Central banks have laid out trillions of dollars of support to markets in recent days to keep them from freezing up but still COVID roils the global economy.
The massive stimulus announced by governments and central banks in recent days to lift confidence helped settle some nerves.
World finance leaders tried to lift confidence with emergency measures by pouring unprecedented aid into panic-hit global financial markets.