Dollar Slips, Rate Cut Speculation Grows As Virus Spreads – 27 February, 2020

The global spread of the coronavirus cause the dollar to have its worst day in two years against the euro and circulated speculations that the U.S. Federal Reserve will cut interest rates. The dollar was last standing just above a three week low against the euro at $1.1001 per euro, headed for its biggest weekly loss since last June on the single currency. The Australian dollar was steady at $0.6569, and the New Zealand dollar was stable at $0.6292. Both the Aussie and the kiwi were down over 6% against the greenback this year. Investors moved towards the Swiss franc as a safe haven, causing the dollar to drop 0.9% against it.