Risk aversion took hold as the NYT reported...>

FOREX: Risk aversion took hold as the NYT reported that over 2.7k people in NYC

are under quarantine, while Maryland declared a state of emergency. JPY took the

lead on safe haven demand, with USD/JPY dropping to fresh six-month lows. AUD

lost ground after a softer than expected retail sales print out of Oz. That

said, its Antipodean cousin NZD regained poise amid reported cross-flows vs. the

Aussie. The Scandies fared badly, with NOK bringing up the rear among G10 FX.

- USD/Asia traded softer as onshore Asia FX played catch up to yesterday's

flight to safety. A deterioration in sentiment observed through the session only

augmented sales. A below-forecast daily fixing from the PBoC pressured the yuan,

which spilled over into broader Asian EM FX. KRW led losses in the space, with

South Korea confirming 518 new Covid-19 cases over the last 24 hours.

- Elsewhere, USD/MXN showed at its best levels in six months, pushed higher by a

broader tide of risk-off flows.

- U.S. NFP report & trade data, Canada's labour mkt data, German factory orders

and Norwegian IP take focus from here. Speeches are due from Fed's Williams,

Evans, Mester, Bullard, Rosengren and George, as well as Riksbank's Ohlsson.