⁍ The dollar tumbled to an almost two-year low against the euro on Monday.

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⁍ Florida on Sunday became the state with the second highest number of total coronavirus cases.

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⁍ The euro was last up 0.79% at $1.1726, after earlier reaching $1.1781, the highest level since September 2018.

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– The dollar plunged to a nearly two-year low against the euro on Monday as investors worried about the growing number of cases of coronavirus in the US. The dollar index, which tracks the greenback’s value, fell 0.72% to 93.68, reports Reuters. It earlier dipped to 93.47, the lowest since June 2018. “It seems like we’re seeing the dollar lose its crown,” says Edward Moya, senior market analyst at OANDA in New York. “There are high expectations you’re going to see the Fed continue to signal that they’re prepared to do more at a longer run, and the US economic recovery is not going to be anywhere near as smooth as what is unfolding in Europe.” The euro was up 0.79% at $1.1726, after earlier reaching $1.1781, the highest level since September 2018. The single currency may extend gains to $1.20 if the region is able to contain any resurgences of the coronavirus, Moya says. Treasury Secretary Steve Mnuchin said on Sunday that Republican coronavirus relief legislation will be made public on Monday and he believes the party can move quickly with Democrats to hammer out their differences. The Fed is expected to keep rates near zero for years to come when it concludes its two-day policy meeting on Wednesday. Investors will be watching to see if the US central bank indicates that it will increase its purchases of longer-dated debt and whether yield caps are likely going forward.