The Dollar is standing firm following Jerome Powell’s remarks on the impact of the coronavirus on the global economy’s growth prospects. The Chairman of the Federal Reserve acknowledged the potential spread of the disruption happening in China to the rest of the world but didn’t mention any change in the central bank’s outlook for the American economy. The positive tone of Mr Powell’s speech drove a positive sentiment through markets and supported the American currency, with the greenback climbing to a 3-week high against the Japanese Yen, which is widely seen as the supreme safe haven currency.
