After weakening yesterday, the dollar is steady this morning as the markets stabilised after coronavirus worries.
An increase in cases was reported over the weekend, prompting investors to turn to the dollar. However, the markets have now stabilised slightly, encouraging investors to turn away from safe haven assets. The dollar remains on the defensive due to concerns that the US economy may be impacted by the virus, despite initial thoughts that the US wouldn’t be as vulnerable as other countries.
Today, we’ll see a series of economic releases for the US, including New Home Sales, which are expected to show an increase.
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