The safe-haven yen eased slightly on Wednesday amid signs China was looking to fend off economic threats from the coronavirus, which supported investor confidence as the outbreak's spread appeared to slow.
China posted the lowest daily rise in new infections since Jan. 29, seen by some investors as an indication containment efforts were working. That pushed the yen to the weaker side of 110-per-dollar and gave a little boost to Asia's export currencies. Currently, the yen is trading at 110.03 per dollar.
China's yuan remained on the back foot, however, touching a two-week low after the central bank fixed a softer-than-expected trading band, and as investors expected further monetary easing.
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Indian shares closed higher on Tuesday, tracking broader Asian markets, but recorded their worst monthly and yearly performance in over a decade as the country grappled with disruption caused by the fast-spreading coronavirus.
31 Mar 2020 03:57 PM
The pound fell against the dollar on Tuesday as the U.S. currency gained strength due to its safe-haven properties amid the spread of the coronavirus.
31 Mar 2020 03:17 PM
UK shares rose on Tuesday as a recovery in oil prices and a surprise expansion in Chinese factory activity revived confidence in equity markets amid a deep selloff this month that set the FTSE 100 on course for its worst quarter since 1987.
31 Mar 2020 02:10 PM
The dollar rose against the yen on Tuesday amid fiscal year-end demand by Japanese companies and the Chinese yuan stood firm after a survey showed manufacturing returned to growth in March.
31 Mar 2020 01:04 PM
The Indian rupee stayed higher at 75.43/75.44 to the dollar in Mumbai against 75.61/75.62 in the previous session, as regional risk aversion eased after better-than-expected China manufacturing data and as local equities extended gains.