Yen slips as infection rate slows, Chinese stimulus eyed

Yen slips as infection rate slows, Chinese stimulus eyed

19 Feb 2020 12:27 PM
 

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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