Yen gains on nCoV concerns, frail economic outlook drags euro

14.02.2020 - Evdokimov Roman
Yen gains on nCoV concerns, frail economic outlook drags euro

TOKYO-The Japanese yen rose against the dollar on Friday as resurfacing concerns about the impact of the novel coronavirus aided safe-haven currencies’ performance.

The yen held tight at 109.81 per dollar in Asian trading board on Friday, continuing its 0.25% gain from previous session.

The euro continued to trade negatively hitting its multi-year of low against greenback and Swiss franc. Euro weakened as investor sentiment in the European zone fell prior to the disclosure of gross domestic product data on Friday.

The Chinese yuan shed gains from its previous trading session as the new strain of coronavirus which originated from Hubei province slowed consumer spending and manufacturing sector.

The British pound clocked in earnings on Asian board on Friday mainly from optimism that British cabinet reorganization will bring a more intensive and encompassing fiscal policy to support growth.

Financial markets temporarily underperformed on Thursday as Hubei officials disclosed a sharp jump in new virus diagnosis and death tolls. Such magnified the implementation of newly discovered method to detect the disease.

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