Dollar Drops Against Safe Haven Currencies – 10 March, 2020

Nervous uncertainty as the coronavirus continues to spread caused the dollar to fall against the safe-haven yen and Swiss franc having rebounded briefly the previous day. Against the yen, the dollar dropped 0.6% to 104.98 yen, roughly one yen lower than the previous session. The euro was up 0.21% to $1.1304, while the Swiss franc gained 0.25% to 0.9369 against the dollar. Global monetary policymakers have begun taking measures to help economies hit hardest by the spread of the coronavirus, with financial markets expecting the U.S.  Federal Reserve to cut interest rates by an additional 0.5% at their policy review next week.