The U.S. dollar slipped to a fresh one-month low against a basket of currencies on Monday, as investors bet on the U.S. Federal Reserve easing policy in a bid to counter the negative impact from the spread of the new coronavirus.
The dollar index, which measures the greenback's strength against a basket of six other major currencies, was 0.44% lower at 97.543; after slipping to a 1-month low of 97.296.
Global risk assets, including equities, were hammered hard last week as investors worried about the economic impact of the global spread of the virus.
The panic in global markets prompted U.S. Federal Reserve Chairman Jerome Powell to issue a statement late on Friday saying the Fed would “act as appropriate" to support the economy.
Source : Reuters