The US Dollar is losing ground to other major currencies due to investor anxiety over the coronavirus spreading into the United States. The first case of an infection not related to foreign travel, or contact with a known carrier of the disease, triggered fears that the virus is now present in the US and being spread within the community. Some observers mention the level of preparedness of the American government to deal with situation as being insufficient. At the same time, the likely economic impact of draconian disease containment measures in the country create greater scope for the Fed to cut interest rates, and therefore the greenback is likely to remain under pressure.
