Coronavirus Cases Rose Unexpectedly, Investors Fly to Safety
Updated 11:55AM 13/02/2020
NZD and NOK are the top G10 FX gainers today, up 1.02% and 0.4% vs the dollar while JPY and USD are the top losers. JPY and CHF are the top G10 FX gainers today, up 0.35% and 0.18% vs the dollar while NOK and NZD are the top losers, down -0.41% and -0.12% vs the dollar.
Japanese Yen rose from a three-week low versus the dollar, and euro to swiss rate hit its lowest since August 2015 as investors sought safe havens after China reported a sudden jump in the number of new cases. Sterling also caught a bid as the recent economic data has so far justified previous Bank of England's decision to leave interest rates on hold. The overall focus will remain on Coronavirus as the crisis could deepen in light of the latest rise in the number of reported cases.
In the Asian equities space, the Nikkei 225 closed -0.14% lower at 23,827.73, Hang Seng closed -0.34% at 27730.0 and Kospi ended -0.24% at 2232.96. The European equities were trading weaker with the FTSE down -1.42% at 7427.48, DAX down -1.09% at 13599.89, and CAC down -1.05% at 6040.52. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.578% and the Bund 10-year yield trading at -0.41%. In the energy space, the Brent (front month) is trading down (-1.13%) for the day at $55.16.
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