Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Forex - Yuan Flat as WHO Says China Can “Reverse the Tide” of Coronavirus’ Spread

Published 01/31/2020, 02:10 PM
Updated 01/31/2020, 02:27 PM
© Reuters.
GBP/USD
-
USD/JPY
-
AUD/USD
-
NZD/USD
-
USD/CNY
-
DXY
-

By Alex Ho

Investing.com - The Chinese yuan was flat on Friday in Asia as the World Health Organization (WHO) said China could “reverse the tide” and control the virus outbreak.

The USD/CNY pair was unchanged at 6.9364 by 1:06 AM ET (05:06 GMT).

The death toll in China has now reached 213 and the number of cases is 9,692 - up from 7,711 a day ago, Beijing confirmed today.

Overnight, the WHO declared the fast-spreading virus a global health emergency, but noted that there is no need to issue travel and trade bans.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.1% to 97.755. The country’s GDP increased at a 2.1% pace in the fourth quarter of last year, the Commerce Department said in its advance estimate on Thursday, in line with forecasts.

On the labor front, initial jobless claims fell by 7,000 to a seasonally adjusted 216,000, slightly missing economists' forecast for a drop to 215,000.

The GBP/USD pair was little changed at 1.3096 after the Bank of England held rates steady. Yesterday, the pound rose to a week high but Britain’s market watchdog was reportedly investigating the move because it began just before the bank's announcement.

The USD/JPY pair advanced 0.2% as global equities recovered.

The AUD/USD pair and the NZD/USD pair were both little changed.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.