(Nasdaq) The safe-haven yen and Swiss franc declined on Monday, as risk sentiment improved and fears about the coronavirus eased after China took measures to cushion the economic impact of the new epidemic and pledged to do more to contain it.
“There was a turnaround in risk sentiment as the sell-off in stocks and the buying of safe-havens last week were a bit overdone,” said John Doyle, vice president of dealing and trading at Monex, Inc in Washington.
“But to be honest, I don’t think there was any difference on the state of the virus between Friday and Monday. I guess markets like the fact that China is being pro-active in trying to contain the virus and in easing the impact on its economy,” he added.
