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Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, said that it was unlikely that the US economy would be completely immune from the effects of a coronavirus-related slowdown.

When asked about the impact of the coronavirus, “all the data we get from China, we look at with a sceptical eye,” Kashkari responded.

Regarding the trade dispute, Kashkari noted that he doesn’t expect “trade skirmishes” to get worse but added that he isn’t confident that they will get better. 

DXY extends rally

The US Dollar Index (DXY) on Wednesday climbed to its highest level since May 2017 at 99.71 and was last seen adding 0.22% on the day at 99.67.