Search ForexCrunch

US President Donald Trump recently tweeted that he recently signed the Defence Production Act in a case to remain reasy to combat the deadly virus.

The Tweet…

I only signed the Defense Production Act to combat the Chinese Virus should we need to invoke it in a worst case scenario in the future. Hopefully there will be no need, but we are all in this TOGETHER!

FX implications

With the measures to combat the deadly virus already fueling the US dollar to the multi-month high, the news adds strength into the risk-off moves while having a little immediate market reaction.