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Yen Jumps Against Dollar in Virus-Driven Risk-Off Move
Tuesday, 25 February 2020 00:02 WIB | CURRENCIES |USD/JPY,mata uang yen YenDolar

The Japanese yen jumped versus the U.S. dollar on Monday in a risk-off move spurred by the rise in coronavirus cases.

The safe-haven yen was last up 0.93% at 110.52 per dollar. The dollar index, which weighs the greenback against a basket of six peers can also function as a safe-haven trade, but was in negative territory for the day, likely because of a significant move lower in U.S. equities. It was last down 0.21% at 99.22 per dollar.

Italy, South Korea and Iran reported sharp rises in coronavirus cases on Monday, but China eased curbs as the infection rate there slowed and a visiting World Health Organization team said a turning point had been reached in the epicentre, Wuhan.

Source : Reuters

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