The dollar finished last week on a stronger note against the pound and euro, as it once again benefitted from its safe-haven status due to coronavirus worries. However, it is weaker against the euro this morning.
The Dow Jones Index suffered its biggest one day fall in history last week as fears of the virus spreading increased. Over the weekend, Federal Reserve Chair, Jerome Powell, issued a statement saying, “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity.”
This week is a busy week for US data, finishing with Non-Farm Payrolls on Friday. They’re expected to drop to 175,000 from the previous reading of 225,000.
However, it’s likely that the greenback will continue to be impacted by coronavirus news and its effect on the markets.
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