The dollar held gains against the yen on Thursday as growing fears that a corona...
TOKYO - The dollar held gains against the yen on Thursday as growing fears that a coronavirus outbreak is turning into a pandemic drove investors to the safety of U.S. Treasuries.
Most currencies were locked in narrow ranges as traders nervously monitor the global spread of the coronavirus that emerged in China late last year. The greenback has pulled back from a 10-month high of 112.23 yen reached on Feb. 20 but still remains above support levels, suggesting further declines could be limited, some traders say.
Efforts to contain the outbreak have paralysed large swathes of China’s economy, which are only slowly returning to normal. There are worries that other countries could face the same problem as the virus spreads around the world.
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