Dollar shines against euro, riskier peers as virus hit widens


SINGAPORE, Feb 19 (Reuters) – The dollar stood tall over the languishing euro and heavily sold exporter currencies on Wednesday, as investors reckoned with a deepening economic fallout from the coronavirus.

The yield curve between U.S. three-month bills and 10-year notes inverted overnight, a bearish economic signal, and German investor confidence slumped as its economy stagnates, sending the euro cheaper than $1.08 for the first time since 2017.

“The market is trying to model itself on coronavirus and it’s struggling really hard to understand how that goes and that’s pushing capital in to the U.S.,” said Chris Weston, head of research at Melbourne brokerage Pepperstone.

Read more : Reuters


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.