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Dollar cedes gains as U.S. virus spread deepens pandemic fear


Thursday, 27 February 2020 14:42 WIB

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The dollar fell against the yen and the Swiss franc on Thursday after the first coronavirus infection of unknown origin was confirmed in the United States, adding to fears of a pandemic.

The dollar also fell from a three-month high versus the pound and declined versus the euro as 10-year U.S. Treasury yields crashed to a record low as concerns grew over whether the world's largest economy was prepared for the epidemic.

Other currencies were locked in narrow ranges as traders nervously monitor the global spread of the coronavirus that emerged in China late last year.

The dollar fell 0.35% to 110.06 yen , extending a pullback from a 10-month high of 112.23 yen reached on Feb. 20.

The dollar also fell 0.35% to 0.9735 Swiss franc, a currency that is traditionally sought as a safe haven.

The pound rose 0.27% to $1.2933. Sterling hovered near a two-week low versus the euro, at 84.46 pence per euro.

The euro rose 0.24% to $1.0902 as traders pondered how European officials would respond to a weakening economic outlook.

Source: Reuters


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