The safe-haven Japanese yen firmed and the Chinese yuan weakened on Thursday, as...
SINGAPORE - The safe-haven Japanese yen firmed and the Chinese yuan weakened on Thursday, as traders kept a wary eye on the spread of a virus in China, while the battered Australian dollar jumped after a surprise drop in unemployment.
The currency moves, while modest, extend a push for safety that began on Tuesday and had partially reversed on Wednesday. The dollar hit its strongest in two weeks against the falling yuan, which traded at 6.9254 midsession. The U.S. dollar was otherwise firm, rising a bit against the euro and kiwi and edging up to 97.552 against a basket of currencies.
“China’s efforts to be transparent is a reprieve for markets, but our suspicion is that cautiousness is likely to remain a near-term theme nonetheless,” said Rodrigo Catril, senior FX strategist at National Australia Bank in Sydney.
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