Dollar rises to three-year high as fears grow over the coronavirus outbreak
A pedestrian walks past electric quotation boards, displaying the Nikkei 225 Index on the Tokyo Stock Exchange and the foreign exchange rate against the US dollar , in Tokyo on February 21 2020. Picture: AFP/KAZUHIRO NOGI
Corporate earnings are increasingly under threat as US manufacturers, like many others, scramble for alternative sources as China’s supply chains seize up. All of which made gold shine as a safe harbour. The metal was last at $1,624.94/oz, having added 2.6% for the week so far to seven-year highs. Yields on 10-year notes were down nine basis points for the week at 1.498%, lows last seen in September.
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