Investors Wage Fed Rate Cut In Preparations For Virus Spread – 25 February, 2020

Growing expectations of a U.S. rate cut and ongoing coronavirus fears caused the dollar to dip slightly.  Against a basket of six major currencies, the dollar index stood just below last weeks three year high of 99.915, dipping 0.9% on the day to 99.081. The greenback rose 0.1% against the Japanese yen to 110.37, While the euro managed to narrowly escape a three year low to settle at $1.08815 after falling to as low as $1.0778 in earlier trading. Top officials have began to warn the U.S. that the spread of the coronavirus within the country is inevitable, a move that has the investors betting on the Federal Reserves next moves to preserve the economy, as the virus makes its way through the Middle East and Europe.