On Thursday, the Euro saw its best single day in almost two years against the US Dollar as fears of a potential pandemic raised expectations
The US Dollar couldn’t hold onto the positive momentum as FX traders fear that the US Federal Reserve Bank will need to lower interest rates in an effort to counterbalance the impact of the Coronavirus spread.
The former Federal Reserve chairwoman Janet Yellen said during an event in Michigan that the coronavirus epidemic could throw the American economy into a recession.
The Dow Jones Industrial Average looks poised to fall some 450 points on Thursday after the U.S. Center for Disease Control (CDC) announced the first diagnosis of coronavirus in a patient that has not traveled recently
During London trade on Wednesday, the US Dollar moved away from the recently struck 2-week trough as FX traders’ expectations of an imminent Fed rate cut were reduced.
The White House recently stated that the US President Donald Trump and his Indian counterpart Narendra Modi have agreed on “promptly” finish the current trade negotiations,