FILE PHOTO: One hundred dollar notes are seen in this photo illustration at a bank in Seoul, South Korea, January 9, 2013. REUTERS/Lee Jae-Won/Illustration
“The dollar does well in global recessions,” said Momtchil Pojarliev, head of currencies at BNP Asset Management in New York. “We think this virus is going to cause a global recession so the dollar will do well.” White House coronavirus coordinator Deborah Birx displayed charts demonstrating data and modeling that showed an enormous jump in deaths to a range of 100,000 to 240,000 people from the virus in the coming months.Analysts said coordinated action by central banks to boost dollar supply has helped calm extreme volatility, but money markets still need time to settle.
The ADP National Employment Report on Wednesday showed private payrolls fell by 27,000 jobs last month, the first decline since September 2017, compared with forecasts of 150,000 job losses.
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