The contingency funds for firms set aside for a no-deal Brexit scenario will be repurposed to battle the impact of the coronavirus outbreak on the economy, acting Irish Prime Minister Leo Varadkar said on Monday, as reported by Reuters. “The coronavirus package of reforms agreed for sick pay, illness benefit is estimated to cost 2.4 billion euros,” Varadkar added and noted that they may have to borrow additional funds for coronavirus actions. Varadkar further announced that all St Patrick’s Day parades in Ireland will be cancelled. Market reaction Risk-aversion remains the main market theme amid a barrage of headlines related to the coronavirus outbreak. At the moment, the 10-year US Treasury bond yield is down 35% on the day while traditional safe-haven currencies, such as CHF and the JPY, cling to strong gains against the USD. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next DXY: It may only be a matter of time when US dollars are back by popular demand FX Street 2 years The contingency funds for firms set aside for a no-deal Brexit scenario will be repurposed to battle the impact of the coronavirus outbreak on the economy, acting Irish Prime Minister Leo Varadkar said on Monday, as reported by Reuters. "The coronavirus package of reforms agreed for sick pay, illness benefit is estimated to cost 2.4 billion euros," Varadkar added and noted that they may have to borrow additional funds for coronavirus actions. Varadkar further announced that all St Patrick's Day parades in Ireland will be cancelled. Market reaction Risk-aversion remains the main market theme amid a barrage of headlines related to the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
