Canadian dollar continues to drop as coronavirus anxiety lingers

Economies.com
2020-03-13 16:10PM UTC

The Canadian dollar fell against most major currencies today, weighed  down by the lingering anxiety in the global markets over the coronavirus pandemic.


The World Health Organization designated the coronavirus a global pandemic, after its rapid spread to all continents,  except Antarctica.


Sources at the White House said that US President Donald Trump will hold a press conference later today, to declare a state of emergency due to the coronavirus health crisis.


More governments and central banks continued to ease monetary policy to ease the coronavirus impact on their economies, through interest rate cuts and stimulus programs for companies and banks.


The latest of which is the Norwegian central bank, as it cut interest rates today following the footsteps of the US Federal Reserve and the Bank of England.


As of 16:09 GMT, CAD/USD fell by 0.3% to 0.7162, after the pair hit an intraday high of 0.7257 and a low of 0.7142.

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