The U.S. Dollar weakened on Monday over worries from the global spread of the coronavirus. Furthermore, Fears mounted that the outbreak that started in China will grow into a pandemic with disruptive and deadly consequences for countries around the world, after sharp rises in infections in South Korea, Italy, and Iran.
The U.S. Dollar Index, which measures the strength of the Greenback against a basket of six major currencies, fell and finished the session at 99.17.
Over in Europe, the single currency surged against the greenback on Monday, helped by positive economic realeses from Germany. EURUSD finished the session at 1.08524.
Meanwhile, Sterling fell slightly against the U.S. Dollar due to rising fears about the economic impact of the spreading coronavirus. GBPUSD finished the session at 1.29309.
Regarding Safe havens, the Swiss Franc rose slightly against the U.S. Dollar and finished the session at 0.97887 USDCHF. Similarly, the Japanese Yen surged against the U.S. Dollar and ended the session at 110.678.
Gold hits the highest price since February 2013 on Monday, as spikes in coronavirus cases in several countries outside China raised worries about a hit to the global economic growth. The precious metal finished the session at 1659.20.
Over in Canada, the Canadian dollar weakened against its U.S. counterpart, as the spread of the coronavirus epidemic outside China raised expectations that the Bank of Canada could cut interest rates next week. USDCAD finished the session at 1.32920.
Meanwhile, the Aussie dollar fell against the U.S. Dollar on Monday and finished the session at 0.66017 AUDUSD.
Cryptocurrencies edged lower on Monday’s session. Bitcoin, Litecoin, and Ethereum fell and finished the session at 9581.31 BTCUSD, 72.57 LTCUSD, and 259.45 ETHUSD.
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