Yen Drops Against Dollar, Has Worst Session in Six Months – 4 February, 2020

The Japanese yen had its worse session against the U.S. dollar in six months as investors moved away from safe haven currencies due to China’s swift response to the coronavirus and efforts to keep the virus contained. The yen was last trading at 109.43 per dollar, just above a 1 1/2 week low, while the Australian dollar gained 0.7% to $0.6733 and the New Zealand dollar steady at $0.6486. The offshore yuan managed to hold on to overnight gains at 6.9943 per dollar. The euro was steady against the dollar at $1.1042, while better than expected construction data helped the pound bounce back from a six week low.