The dollar slid in another seismic shift to price in more U.S. interest rate cuts on Thursday, as President Donald Trump sapped market confidence with a coronavirus plan light on details.

The greenback dropped as far as 1% to 103.32 yen, fell as much as 0.6% to $1.1333 against the euro and lost 0.6% to the safe-haven Swiss franc.

Riskier currencies were punished as the fearful mood sent the Australian dollar down 0.6% and the South Korean won skidding 1%, and losing even more ground to the rising yen.

Trump announced on Wednesday a ban on travelers from 26 European countries entering the United States for a month.

Source: Reuters