The dollar checked its march higher on Tuesday, as investors sharply raised bets...
SINGAPORE - The dollar checked its march higher on Tuesday, as investors sharply raised bets that the growing fallout from the coronavirus outbreak would prompt U.S. interest rate cuts.
Supply chains around the world are jammed as China locks down to combat the virus and stocks have tumbled, bonds have jumped and expectations of rate hikes in the United States have vanished. “We’ve seen not only a repricing of Fed expectations, but a bigger re-pricing because the Fed is the one that can actually do something in terms of moving the cash rate,” he said.
Against a basket of currencies the dollar was flat at 99.321. However, without much good news on the virus, few expect the dollar to give back too much of its recent strength.
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