SINGAPORE/LONDON—The U.S. dollar fell on Monday on expectations the Federal Reserve will be less aggressive in raising interest rates after authorities stepped in to limit the fallout from the sudden collapse of Silicon Valley Bank.
The U.S. government announced several measures early in the Asian trading day, saying all SVB customers will have access to their deposits starting on Monday.
The authorities also said depositors of New York’s Signature Bank, which was closed on Sunday by the New York state financial regulator, would be made whole at no loss to the taxpayer.
The Fed announced it would make additional funding available through a new Bank Term Funding Program, which would offer loans of up to one year to depository institutions, backed by Treasuries and other assets these institutions hold….