A surge in the dollar to a four-month high against other currencies has added another potential headwind to US growth, as the Federal Reserve weighs the risks to the economy of the intensifying coronavirus outbreak.
Since investor concern about the impact of the outbreak began to move financial markets four weeks ago, the dollar has climbed 1.65 per cent against a basket of other major currencies.
The currencies of emerging market countries, whose fortunes are most closely linked to the Chinese economy, have shed 2.36 per cent over the same period, according to a JPMorgan index.
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