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RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Fear of the escalating Covid-19 epidemic......>

FOREX
FOREX: Fear of the escalating Covid-19 epidemic inspired hunt for safety.
China's Hubei warned that the pathogen's incubation period may be longer than
previously thought. Case counts in Italy & South Korea soared markedly and both
countries reported new fatalities, as did Iran. Official communique of G20
FinMins' conclave reflected heightened coronavirus angst, infecting sentiment.
- JPY sits atop the G10 pile despite shaking off the bulk of initial strength.
There is continued speculation that the yen's allure as a safe haven might be
waning. BoJ Gov Kuroda argued to the contrary over the weekend, attributing
recent JPY weakness to a stronger USD. DXY crept higher, only marginally lagging
JPY. High-beta G10 FX lost ground, AUD/USD showed at fresh 11-year lows.
- Risk aversion roiled EMFX, although the yuan gradually pared losses. USD/KRW
hit six-month highs as top off'ls raised virus alert to "red" and are reviewing
"unprecedented" stimulus measures. Selling pressure on MYR was augmented by a
domestic political crisis. IDR tumbled even as BI intervened to help the rupiah.
- German Ifo Survey is in focus today, BoE's Haldane & Fed's Mester will speak.
Japanese markets are shut for a public holiday.
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