The euro was on the back foot on Monday, as concerns mounted about weakening economic growth in Europe at a time financial markets and policymakers fret about a new threat to the global economy from a fast spreading coronavirus in China.

The euro, which hit a 33-month low of $1.0817 on Friday, fetched $1.08385 in early Asian trade on Monday, flat so far on the day but down 2.3% since the start of month.

The dollar index stood at 99.131, near Friday’s 4 1/2-month high of 99.241.

The yen stood at 109.81 yen per dollar little moved in a tight range for more than a week.

The Australian dollar held firm as investors assessed the latest reading on coronavirus cases in China’s Hubei Province, the epicenter of the outbreak.

Source : Reuters