Tuesday, 26 May 2020
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Yen Begins to Feel Coronavirus Heat
Monday, 6 April 2020 15:17 WIB | CURRENCIES |USD/JPY,EUR/USDGBP/USD

The Japanese yen has seen selling Monday, with the country™s government expected to call a state of emergency in response to the coronavirus pandemic.

At 3:05 AM ET (0705 GMT), USD/JPY climbed 0.7% to 109.17. The U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 100.685, largely flat, while EUR/USD rose 0.1% to 1.0823 and GBP/USD rose 0.1% to 1.2269.

Japan has been relatively lightly hit by the spread of the coronavirus pandemic so far, registering just over 3,600 cases, according to Johns Hopkins University.

However, pressure is starting to mount on the Japanese government because the number of cases is starting to increase, with the number in Tokyo alone topping 1,000 - still low compared with the United States, countries in Europe and China, where thousands have died.

Source : Investing.com

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