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Risk turned its tail again amid wider.........>

FOREX
FOREX: Risk turned its tail again amid wider disappointment with the lack of
clarity from the White House on fiscal stimulus measures, touted by the POTUS.
The ever-growing concern with spreading Covid-19 was evident, with U.S. case
count topping 1,000 & CDC noting that in some places containment efforts have
failed. Participants dumped the greenback, high-betas took a hit on risk-off
flows & safe havens picked up a bid. JPY was the big mover of the session, with
USD/JPY weakening past the Y105.00 mark. AUD dipped after showing little
reaction RBA Dep Gov Debelle's suggestion of the RBA's preference for YCC over
outright QE, should the need for bond buying arise. GBP was among the worst
performers among G10 FX with the Times reporting that UK Health Min contracted
coronavirus & had earlier attended an event at No. 10 with PM Johnson.
- USD/CNH recovered neutral levels after a softer than expected PBoC fix, but
resumed its sell-off later on, returning to negative territory. KRW opened on a
firmer note amid signals that the extra budget might be expanded & (only
superficially) solid data, but more than erased those gains through the session.
- U.S. CPI, as well as UK monthly indicators & 2020 Budget are awaited today.
Energy BulletsCommodities
Energy BulletsCommodities

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