Asian currencies arrest slide as WHO confident in virus response
Friday, 31 January 2020 08:59 WIB | CURRENCIES |Aussie YenCurrencyDOLLAR

Asian currencies arrested their slide on Friday as confidence from the World Health Organization in China's response to a new virus and upbeat data from the world™s second biggest economy tempered worries over a jump in new infections.

Together with official data showing Chinese services activity picking up this month, that was enough to pause selling from investors who are waiting for more information about the virus to judge its likely human and economic costs.

The Aussie is 4.1% weaker this month and, if the selldown does not reverse, is headed for its worst month since May 2016.

The yen was steady at 109.00 per dollar and the greenback stable at $1.1030 per euro in morning trade.

Against the Australian dollar, the yen has added 3.2% in the 10 days since concerns about the virus began roiling markets. Against the Korean won, the yen has gained nearly 4%.

Source : Reuters

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