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  • $ Rising

    Coronavirus fears have pushed the US dollar to a three-year high

    By Anneken Tappe, CNN Business
    Updated 7:47 AM ET, Sat February 22, 2020

    New York (CNN Business)The US dollar index reached a three-year high as investors worried about the global coronavirus outbreak are moving their money into the safe-haven greenback.

    Investments considered safe in times of market turmoil have been rallying since the outbreak became Wall Street's number one worry in January. Cases continue to rise globally. The full financial and economic cost of the outbreak is incalculable.

    But the United States, as well as dollar-denominated assets, are considered to be somewhat shielded from the outbreak's impact.
    America's economy is less reliant on trade and exports than its peers, for example. That means the expected slowing of China's economic growth in the first quarter will hurt the United States less than it will other countries.
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