Dollar slips as markets fall under pressure

The US dollar edged lower against most of its major counterparts on Friday, amid high pressures on global markets.

Stocks, bonds, currencies, and precious metals markets suffered massive losses today, on mounting fears over the coronavirus globa spread.

The World Health Organization raised its assessment of the coronavirus to "very high," as outbreaks continued to appear in 50 countries within few weeks.

Analysts at Goldman Sachs forecast that the US Federal Reserve will cut interest rates by three times this year by June to support thr economy.

The US consumer spending reading for January fell today, while personal income rose by 0.6%.

The dollar index fell against a basket of major currencies by 0.1% to trade at 98.3 points as of 19:06 GMT, with an intraday high of 98.6 and a low of 98.02.