- Asian session review: the yen rose to a six-month high against the dollar
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Asian session review: the yen rose to a six-month high against the dollar
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 00:30 | Australia | Retail Sales, M/M | January | -0.5% | 0% | -0.3% |
| 01:00 | U.S. | FOMC Member Kashkari Speaks | ||||
| 01:45 | U.S. | FOMC Member Williams Speaks | ||||
| 05:00 | Japan | Leading Economic Index | January | 91.0 | 91.9 | 90.3 |
| 05:00 | Japan | Coincident Index | January | 94.4 | 94.2 | 94.7 |
| 07:00 | Germany | Factory Orders s.a. (MoM) | January | -2.1% | 1.4% | 5.5% |
During today's Asian trading, the yen rose to its highest level in the last six months against the US dollar, while the yield on 10-year us government bonds updated the historical minimum.
Investors prefer to transfer funds to safe assets, which traditionally include government securities and the Japanese yen, amid uncertainty about the development of the situation with the coronavirus and its impact on the world economy, experts say.
Analysts at Goldman Sachs believe that in the event of a global panic in the markets due to COVID-19, the dollar may fall to 95 yen - a level that was last seen in 2013. In their view, the Japanese currency remains "one of the few classic "safe haven" assets that remain undervalued."
The ICE Dollar index, which shows the value of the dollar against six major world currencies, fell 0.27% compared to the previous day.
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