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US President Donald Trump on Tuesday said his administration may cut off travel from the United States to areas with high rates of coronavirus, but said officials were not weighing any restrictions on domestic travel.

Trump, speaking to reporters ahead of a visit with US health researchers to discuss the virus outbreak, said he was considering blocking travel to virus hot spots.

Key notes

  • Trump says his administration is not looking at restricting domestic travel over coronavirus.
  • Says he is considering cutting off travel to other coronavirus hot spots.
  • Asked if he would support US participating in olympics in Japan amid virus outbreak, says it is up to Japan.
  • Asked if he would support US participating in olympics in Japan amid virus outbreak.
  • Says not looking very strongly at closing southern US border now amid coronavirus.
  • Says US may block travel to coronavirus hot spots.

Market implications

The Federal Reserve cut interest rates by 50 basis points on Tuesday in an emergency meeting and is expected to do more and that’s keeping the US dollar on the back foot. However, the greenback could be expected to attract a safe haven flow as a coordinated effort from central banks will likely see additional action from other central banks.