The yield on US ten-year Treasuries has dropped to a new historic low under 0.80%. The rush into the safety of American debt in response tot he coronavirus crisis is weighing heavily on the dollar.
Thousands of people are quarantined in New York City, the world’s financial capital, and a cruise ship is stranded off the coast of San Francisco. The US is lagging behind in producing enough testing kits to find those infected.
EUR/USD has reached 1.1278, GBP/USD is advancing toward 1.30 and USD/JPY remains depressed under 106.
Gold prices are surging and trading close to $1,680, below the seven-year highs of $1,689.
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