The yen rose from a three-week low against the dollar on Thursday as investors s...
TOKYO - The yen rose from a three-week low against the dollar on Thursday as investors sought safe havens after China’s Hubei province, the epicentre of a coronavirus outbreak, reported a sharp jump in the number of new cases.
Using a new method of diagnosis, Hubei on Thursday reported 14,840 fresh cases of the virus as of Feb. 12, up from 1,638 new cases on Tuesday, with the number of deaths in the province rising by a daily record of 242 to 1,310. The Australian dollar, widely used as a proxy for risk on Chinese assets, fell 0.22% to $0.6724, while the New Zealand dollar dipped 0.2% to $0.6453.
The World Health Organization has likened the epidemic’s threat to terrorism, underscoring the anxiety in financial markets about its impact across businesses and trade worldwide.
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