Markets were unnerved by a statement from.....>

FOREX: Markets were unnerved by a statement from Apple, which warned that it

probably won't manage to meet its Q1 revenue guidance as the Covid-19 outbreak

weighs on iPhone demand and disrupts supply chains to a larger extent than

anticipated. The red flag from Apple reinvigorated broader concerns over the

economic toll of the coronavirus. G10 FX showed a clear risk-off reaction, with

JPY jumping atop the pile. Commodity-tied FX were the laggards, with NOK leading

losses. AUD softened a tad after the RBA published the minutes from its Feb

meeting, which revealed that members deemed Covid-19 a "material" risk.

- Renewed selling pressure hit the yuan, with USD/CNH briefly showing marginally

above the 7.0 mark. USD/CNY also threatened to challenge that round figure.

- Asian EMFX generally underperformed the greenback. KRW led losses in the space

with S. Korean Pres Moon calling his country's econ situation an "emergency."

Participants remain on the lookout for Singapore's FY2020 budget.

- Elsewhere, the focus turns to German ZEW survey, UK labour market report,

Canadian m'fing sales, U.S. Empire M'fing, and Swedish unemployment. Speeches

are scheduled from ECB's Panetta and Riksbank's Ingves.