The dollar strengthened against a basket of currencies yesterday, as coronavirus fears rose. The number of cases in Italy, South Korea and Iran have increased, and the World Health Organisation have said that the world should do more to prepare for a possible pandemic. However, the greenback’s gains have been capped by speculation that the coronavirus could prompt an interest rate cut from the Federal Reserve.
Despite this, the US economy is seen as better equipped to deal with the effects of the coronavirus than most other economies.
The process to select the Democratic candidate for the presidential election is underway, with Bernie Sanders seen as the frontrunner so far.
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