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Trading news
13 Feb 2020
Japan PM Abe: Will take the necessary measures on the virus hesitation, JPY keeps highs
Reuters reports the latest comments from the Japanese PM Shinzo Abe, as he expresses a conciliatory tone on the China coronavirus issues and assures pre-emptive measures to counter the negative economic fallout from the outbreak.
Key Quotes:
Will take the necessary measures on the virus hesitation.
Will be using JPY 10.3bln in reserves for virus measures.
To bolster virus testing at 83 research centers.
FX Implications:
The Japanese yen holds the higher ground amid virus-led risk aversion across the board, with USD/JPY printing a new daily low near 109.70. The spot is mainly weighed down by heavy sell-off in the US Treasury yields across the curve.