Riskier currencies steady as investors assess China virus fallout
*The offshore yuan — heavily sold in recent days — was marginally stronger at 6.9551 per dollar, off Monday’s 6.9900 to the dollar, which was its weakest in almost a month.
*Firmer-than-expected inflation figures supported the Australian dollar from Tuesday’s three-and-a-half month low to $0.6773, a gain of 0.15% for the day
*The yen was a touch weaker at 109.2 yen per dollar, while the Swiss franc edged 0.1% softer to a two-week low of 0.9744 francs per dollar.
Riskier currencies steadied on Wednesday and demand for safe-havens ebbed, as investors waited for more news on the likely economic damage from a virus outbreak spreading from China.
The offshore yuan — heavily sold in recent days — was marginally stronger at 6.9551 per dollar, off Monday’s 6.9900 to the dollar, which was its weakest in almost a month.
Firmer-than-expected inflation figures supported the Australian dollar from Tuesday’s three-and-a-half month low to $0.6773, a gain of 0.15% for the day
The Japanese yen was a touch weaker. Though with moves slight across the board, it is clear traders remain on edge.
“The way risk is trading, people are saying that perhaps we reached peak worries, peak fear,” said Chris Weston, Head of Research at Melbourne brokerage Pepperstone.
“But it’s got an uncertain feel to it…it’s difficult to sell the yen or sell Swiss franc in an environment where the newsflow is still getting progressively worse, and we’re not really fully able to price risk.”
The newly-identified virus has created alarm because it is spreading quickly and there is little known about it. The death toll rose sharply to 132 on Wednesday with nearly 1,500 new cases, for a total of nearly 6,000 cases.
The yen was a touch weaker at 109.2 yen per dollar, while the Swiss franc edged 0.1% softer to a two-week low of 0.9744 francs per dollar.
Mainland Chinese markets are shut for Lunar New Year this week, with onshore currency and bond trading closed. Hong Kong’s equity markets tumbled in their first session since the break.
Elsewhere, the euro stood at $1.1013, having hit a two-month low of $1.0998 on Tuesday, after a strong U.S. consumer sentiment reading buoyed the greenback.
Sterling was steady at $1.3018, having also dropped overnight as the dollar rose to a two-month high against a basket of currencies.
In Asian hours, the dollar held below that peak at 98.027.
The U.S. Federal Reserve meets later on Wednesday and is expected to keep rates on hold with a wary eye to the economy.
But some think a mere mention of risks from the coronavirus may spark speculation the Fed could dole out more stimulus in future, if the U.S. economy is hit by fallout from the outbreak.
“It is not necessarily the virus per se that is the problem for the world’s economy,” said Jeffrey Halley, senior market analyst for Asia Pacific at broker OANDA.
“It is the self-feeding negative feedback loop on economic activity, and thus growth, it creates…a worst-case scenario, dragging over the next few months, could even knock the Federal Reserve off autopilot trajectory.”
Source: CNBC
Comments (62)
quinine vs chloroquine
goodrx modafinil modafinil and alcohol
how long does tadalafil last https://pharmaceptica.com/
https://deltasoneprednisone.com/ prednisone for gout
buy accutane https://isotroinisotretinoin.com/
buy provigil https://modafinilok.com/
trimethoprim side effects Can I drink alcohol while taking sulfamethoxazole / trimethoprim DS tablets?
prednisone long term side effects prednisone medication
modafinil schedule buy modafinil
buy isotretinoin isotretinoine
trimethoprim trimethoprim side effects
… [Trackback]
[…] Find More on to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Info to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Read More here to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Find More Info here to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Read More on to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Read More here to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Find More Info here to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Find More to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Information on that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Find More on that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Information to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Information on that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Here you can find 55516 additional Information to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Read More on on that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
… [Trackback]
[…] Read More on to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
buy zithromax over the counter 2012 Apr 20; 287 17 13996 4003
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
see the map below Gordon pUAXtVgiTWWMJbZ 6 28 2022 zithromax online overnight
… [Trackback]
[…] Here you can find 76258 additional Information to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
price of accutane in south africa buy accutane singapore buy accutane online reviews
Get your accutane 5 mg 10mg from accutane 5 mg 10mg and experience its effectiveness.
buy accutane for sale accutane singapore cost
where can i buy accutane for acne buy generic accutane accutane where to buy
… [Trackback]
[…] Information to that Topic: dayfinanceltd.com/riskier-currencies-steady-as-investors-assess-china-virus-fallout/ […]
Is Accutane 20 mg available in capsule form? https://isotretinoinex.website/
Are there any new advancements or updates related to Accutane in 2019? https://isotretinoinex.website/
buy accutane cheap generic accutane 40 mg buy accutane india
accutane tablets accutane 20 mg for sale accutane prescription price
What is the difference between a 100 milligram and a 120 milligram dosage of Accutane? https://isotretinoinex.website/
What is the price range for Accutane 20 mg in the UK? https://isotretinoinex.website/
where to buy accutane in australia accutane medication
where is the best place to buy accutane online accutane cream cost buy accutane online
can you buy accutane over the counter accutane 20 mg buy online accutane pharmacy prices
Find affordable accutane cost online at accutane cost online and experience the benefits.
Is Accutane available over the counter in certain countries? https://isotretinoinex.website/
meclizine oral
meclizine order
buy meclizine online cheap
antivert 25 mg us
oral antivert 25mg
meclizine 25mg pill
cost meclizine 25 mg
meclizine 25 mg sale
buy antivert 25 mg sale
purchase meclizine pill
order antivert 25 mg generic
buy meclizine
buy meclizine without prescription
antivert order online
order meclizine
Your article gave me a lot of inspiration, I hope you can explain your point of view in more detail, because I have some doubts, thank you.