Dollar edges up on safe-haven demand amid fears over Coronavirus

The US dollar inched higher against most major currencies amid intensified markets worries over the Coronavirus, which boosted demand on safe havens such as the greenback and gold away from stock markets.

China announced that the Corona virus has claimed more than 80 victims and 2,800 infected cases, with hundreds in critical condition.

Multiple other countries including the US,, France, South Korea, Japan and Australia have revealed confirmed cases of the virus, which mounted fears of a global epidemic that will force the World Health Organization to declare a state of emergency.

The US Federal Reserve will launch its meeting tomorrow and will continue until Wednesday to unveil its interest rate decision amid widespread forecasts to be kept unchanged.

The dollar index rose against a basket of major currencies by 0.1% to 97.9 points at 20:04 GMT, after hitting a high of 98.00 and a low of 97.7.