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Yen Pushes Higher; Euro in Focus as ECB Meets


Thursday, 23 January 2020 16:08 WIB

EuroDolar AS YuanYen Jepang


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The safe haven Japanese yen gained against the U.S. dollar Thursday on a sharp bout of risk aversion, as battles to contain the new pneumonia-like virus in China intensified, although volatility remained limited.

By 03:30 ET (0830 GMT), the yen had climbed 0.2% against the dollar, with USD/JPY trading at 109.56. The Chinese yuan dropped 0.4% against the greenback, with USD/CNY trading at 6.9313. The US Dollar Index Futures, which tracks the greenback against a basket of other currencies, was essentially flat at 97.30.

Earlier Thursday, China issued a travel suspension in Wuhan, a city of 11 million at the center of the outbreak of the coronavirus, as its latest attempt to stop the spread of the disease. The virus has killed at least 17 people so far and infected hundreds of people in China, and as far afield as the U.S., Thailand, Taiwan, Japan and the Republic of Korea

Elsewhere, the EUR/USD pair inched down 0.1% to 1.1087 as traders awaited the European Central Bank (ECB) policy meeting due later in the day. The meeting will be followed by a press conference with President Christine Lagarde.

Source : Investing.com


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