The Australian dollar and Chinese yuan rose on Thursday after China unexpectedly...
All had been heavily sold in favor of safer currencies such as the Japanese yen in recent weeks as investors scrambled to price in a sharp economic slowdown in China.The death toll from the coronavirus in mainland China rose by 75 on Thursday, its third consecutive record daily rise. Infections stand at 28,018.
Chinese authorities have also pumped in billion of dollars into money markets this week in an effort to restore calm, and have pledged to do more to support the economy.made a fresh record closing high and Asian equity markets extended their rally on Thursday. The greenback extended gains against the pound in Asian trade, gaining 0.1% to $1.2977 per pound, while sitting only a fraction below a two-month high against the euro“This is a market that was just wanting to go higher, it just needs a reason,” said Chris Weston, head of research at Melbourne brokerage Pepperstone.Though that is not to say caution is absent. Many risk-sensitive assets are still trading at substantial discounts to their prices of a few weeks ago.
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