Forex news for Asia trading Thursday 5 March 2020
Yen gained today and US stocks dropped, a catalyst for moves being
California declaring a state of emergency re the COVID-19 outbreak.
Further worry was fanned by news about that the US has only conducted
circa 500 tests for coronavirus. China initially disregarded the risk
and that did not work out so well, if that is the case in the US this
is going to get much worse before it gets better. The number of
events being cancelled or moved online is growing.
Australia the PM announced further inbound travel restrictions,
extending those already in place on China and Iran, adding South
Korea and implementing tighter checks on arrivals from Italy.
of note on virus news, Caixin reported firms in areas of China were
falsifying data to meet pressure to show people are getting back to
all this yen was the mover, from highs above 107.70 USD/JPY fell to
GBP, CHF, CAD really did not do too much at all. NZD and AUD added a
few points but again, not large ranges.