the US dollar fell against the yen Because of the Corona virus
The USDJPY, a safe haven, fell on Friday, as investors worried that the spread of a virus that appeared in China could harm travel and economic demand.
On Friday, the US Centers for Disease Control and Prevention confirmed a second US case of the new Corona virus from China, and said that as many as 63 possible cases were being examined with the sometimes deadly disease spreading around the world.
The newly discovered virus has killed 41 people in China and infected more than 1,287. To date, infections and all deaths have been concentrated in China, as the authorities have imposed severe restrictions on travel and gatherings.
The dollar fell 0.22 percent to 109.24 yen, against the Japanese currency
which attracts investors in times of geopolitical or financial pressures, given Japan's position as the largest creditor in the world.
"The demand for safe havens is the main driver of the weekend," said Ronald Simpson, managing director of global currency research at Action Economics, in a note. "Nerves are getting more tense as the outbreak of the coronavirus appears to be worsening."
The pound fell on Friday, after initially climbing, with some investors still expecting to cut interest rates next week even after company surveys showed a recovery in the British economy after the elections. Sterling fell 0.33 percent against the dollar.
The Canadian dollar fell about 0.13 percent against its US counterpart, as the new Corona virus affected oil prices.
Because of the Corona virus ... the US dollar fell against the yen
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Oleh
MEROUANE ATIK
