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There is a high probability that the coronavirus will “blow over,” St Louis Fed President James Bullard told CNBC on Friday and added that there was a good chance the outbreak will be a temporary shock. 

“Market expectations are likely to return to on-hold outlook,” Bullard said and noted that he is concerned about the yield curve issues. Regarding the upcoming presidential election, Bullard argued that there will be little impact on the Fed from the election cycle.

USD reaction

The US Dollar Index largely ignored these comments and was last seen down 0.17% on the day at 99.71.