The EUR/USD is being traded below the 1.12 handle amid the growing spread of the coronavirus that has affected global markets and economies. 

Additionally, the European Central Bank did not manage to impress traders and added to its bond-buying scheme by a total of 120 billion euros. It did not cut any rates, however lowering the deposit rate, which currently stands at -0.50%, would harm banks.

The stock market is worse than its position in 2008, and the coronavirus pandemic is expected to continue impacting the markets. 

Traders, concerned, charged for the USD, leading the EUR/USD to hit a low of 1.1050. Soon after, the Federal Reserve injected liquidity of $500 billion, and is said to do the same later on today.

Thursday’s happenings were described as being worse than 1987’s “Black Monday”. 

British Prime Minister Boris Johnson was criticised and called irresponsible by medical experts. "Many families will lose loved ones,” Johnson said. 

The GBP/USD is being traded at around the 1.26 handle. 

On the other hand, Donald Trump declined the proposal for special funding, and claimed that the markets will recover from the current downfall. The Cable’s performance will depend on Washington’s next steps.

The pandemic is forecast to continue leaving an impact on the markets.