Safe Haven Yen Rallies on Virus Fears
Monday, 27 January 2020 16:48 WIB | CURRENCIES |USD/JPY,EUR/USDGBP/USD

The Japanese yen is in demand Monday as traders flock to the safe haven currency amid concerns over the spread of the pneumonia-like virus in China.

At 03:20 ET (0820 GMT), the USD/JPY dropped 0.2% to 109.08, having fallen as low at 108.73 overnight, the lowest level since Jan. 8. The US Dollar Index Futures, which tracks the greenback against a basket of other currencies, was largely flat at 97.68.

Nearly 2,000 people in China had been infected and 56 killed by the disease, Chinese authorities said Sunday, although reports state that the death toll has since increased to 80.

At 03:25 AM ET (0825 GMT), EUR/USD traded 0.1% higher at 1.1031 and GBP/USD flat at 1.3075.

Source : Investing.com

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