As the coronavirus spread faster outside China, the outbreak source, with the infections rate in China slowing, investors flee to safe havens.
Investors reduced expectations that the U.S. Fed would signal more policy easing in response to COVID19 spreading outside China.
Sterling rebounds as markets worrying about the spread of coronavirus found some stability. The main driver of the pound was the return of the risk appetite following Monday’s selloff.
The Swiss franc climbed to its highest since July 2015 against a struggling euro as concerns about the coronavirus spread sent investors into safe-haven assets.
The coronavirus outbreak prompts some asset prices to move together in odd ways, a sign that investors may get prepared for a global slowdown.