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Spreading coronavirus epidemic worked.........>

FOREX
FOREX: Spreading coronavirus epidemic worked against the fragile risk appetite.
Safe havens gradually firmed up, though the greenback struggled as U.S. Pres
Trump's special presser on the matter proved rather uninspiring, while the U.S.
declared its first Covid-19 case of unknown origin. Commodity-tied FX generally
lost some steam, albeit AUD traded mixed despite a poor headline reading of
Aussie Q4 private capex. G10 crosses stuck to fairly tight ranges.
- USD/KRW dipped as the BoK unexpectedly stood pat on policy, but promptly
staged an impulsive rebound as South Korea's case count surged to 1,595, with
the U.S. warning against unnecessary travel to the country & suspending joint
military drills with Seoul. MYR outperformed Asian EM peers with PM Mahathir set
to unveil stimulus package & amid hopes that domestic political turmoil will
ease. USD/CNH & USD/CNY drifted in opposite directions, both range-bound.
- USD/MXN was well bid after Banxico lowered its growth forecast yesterday.
- On the radar today are U.S. GDP data & flash durable goods, Swedish trade
balance & retail sales, as well as EZ economic sentiment indicators. Multiple
central bankers from the Fed, ECB & BoE are set to speak.

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