fxs_header_sponsor_anchor

News

US Pres. Trump: Will invoke Defense Production Act against coronavirus

While addressing the press briefing with Coronavirus Task Force on Wednesday, US President Trump said that he will invoke Defense Production Act against coronavirus.

Key quotes

Will sign act shortly after news conference.

FEMA activated in all regions.

Two hospital ships being prepared to go to New York.

Will hold second news conference Wednesday or Thursday regarding FDA and coronavirus.

One hospital ship to be positioned on west coast after saying both would go to New York.

Potential for 20% unemployment a worst-case scenario, we are nowhere near it.

USD reaction

The US dollar hits the highest levels since March 2017 against its main competitors, with the US dollar index now trading at 101.26, up 1.68% on the day.

Mounting coronavirus concerns on the global economic growth and liquidity crunch in the markets has fuelled the massive surge in the demand for the greenback.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.