Dollar Stabilizes After Slipping As U.S. Prepares For Larger Outbreak – 24 March, 2020

Efforts to reduce the impact of the coronavirus on the economy has helped the dollar steady against major currencies due to offers made by the U.S. Federal Reserve. The greenback eased against the yen to 110.97 yen per dollar, and slipped 0.3% against the euro to $1.0814. Nervous investors are still running towards the dollar in cash for safety, capping gains in the Australian, European, and British markets. The pound was up 0.4% to $1.1796, the Aussie rose 0.5% to $0.5979, and the kiwi was steady at $0.5834. While many efforts are being made to stop the spread of the virus, many have warned that this is only the beginning for the U.S. with the World Health Organization warning that New York could become the next epicenter of the pandemic.