The dollar held gains against the yen on Wednesday amid a broad unwinding of safe-haven positions as China's responses to the coronavirus outbreak supported investor confidence, even as deaths and new cases climbed.

The coronavirus outbreak claimed its first life in Hong Kong on Tuesday, as the mainland China death toll rose by 65 to 490 and the number of cases rose to 24,324.

However, the yen, seen as a haven by virtue of Japan’s position as the world’s largest creditor, halted its decline by morning, suggesting investors are still cautious.

It last traded just above a 1-1/2 week low at 109.43 per dollar. The trade-exposed Australian dollar, by contrast, bounced 0.7% on Tuesday from not far above a decade low to its highest in a week. It last stood at $0.6733.

Source : Reuters