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Yen climbs as hopes for G7 rescue waver
Tuesday, 3 March 2020 15:58 WIB | CURRENCIES |mata uang yenDolar AS

The safe-haven Japanese yen gained on the dollar on Tuesday, as the market tempered hopes for global monetary easing with worries about its scale and efficacy in combating the economic damage from the coronavirus outbreak.

G7 finance ministers and central bank governors hold a conference call later on Tuesday to discuss measures to deal with the outbreak and its widening economic fallout.

The call, which French and Italian sources said begins at 1200 GMT, comes with markets already betting the U.S. Federal Reserve will lead a round of global monetary easing.

The dollar fell 0.5% to 107.80 yen and edged lower on the Swiss franc to 0.9576 francs after Reuters reported, citing an unnamed G7 official, that the G7 draft statement had no fresh fiscal or monetary pledges.

Source: reuters

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