The euro closed lower this week, falling 0.5 percent against the dollar, following a series of declines to break above the 1.20 barrier and rising concerns about the euro rising from the central bank. The European Union (ECB) is wary of a rising euro.

The euro / dollar traded at an all-time high since early 2018, gaining traction following comments from the Fed's chief economist Philip Lane last week that the central bank was concerned about the exchange rate. Such an outbreak could jeopardize the economic recovery from the economic closure to avoid an epidemic.