Loonie falls as coronavirus spreads to several countries

The Canadian dollar fell against most currencies, as worries over coronavirus escalated in a number of countries due to the coronavirus outbreak.

China revealed today that coronavirus has infected about 80,000 cases, and President Xi Jinping urged citizens to return to their jobs and take the necessary measures.

Iran also revealed that the virus has claimed almost 50 people, Italy and South Korea revealed multiple infected cases and deaths.

While the World Health Organization urged countries and governments to take measures before the coronavirus spread get out of hand and turn into a global pandemic.

Several news reports said that the Donald Trump administration will ask for emergency funding from the US Congress during this week to combat the coronavirus.

CAD/USD fell 0.4% to trade at 0.753 as of 18:12 GMT, after the pair hit a high of 0.7562 and a low of 0.751.