Canadian dollar steadies despite lingering virus anxiety

Economies.com
2020-03-11 15:51PM UTC

Loonie held steadily against the US dollar on Wednesday, despite the lingering fears in global markets over the coronavirus.

 

Investors are parsing the impact of the coronavirus outbreak on global economic growth.

 

Which led many governments to take stimulus measures to support their economic growth and address the coronavirus impact, chief among those is the US, as President Donald Trump signed a $8.3 billion emergency fund to health authorities.

 

The The Bank of England has announced an emergency cut in interest rates on Wednesday by half 50 basis points to 0.25%, to counter the impact of the deadly virus.

 

Following the US Federal Reserve, the central banks of Australia, Malaysia and Canada interest rate cuts to support their growth.

 

As of 15:49 GMT, CAD/USD rose less than 0.1% to 0.729, after the pair earlier hit a high of 0.7314, and a low of 0.7262.

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