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The week has started with participants........>

FOREX
FOREX: The week has started with participants flocking to safe haven assets in
fear of the escalating Covid-19 epidemic. Case counts in Italy & S. Korea have
soared, with the latter raising its infectious diseases alert to red. Official
communique from G20 FinMins' summit pointed to risks from the virus, while it
appears as the pathogen's incubation period may be longer than prev. thought.
- JPY is the best G10 performer, but has shed most of its initial gains amid
continued speculation that the currency'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 has crept higher in early trade.
High-beta G10 FX are on the defensive. AUD/USD printed fresh 11-year lows.
- Risk aversion has rattled EMFX. USD/KRW has rallied to six-month highs as the
local spread of Covid-19 is threatening to spiral out of control. S. Korean
off'ls pledged policy action to shield the economy & expressed readiness to aid
KRW. USD/CNH & USD/CNY have climbed, but respected Friday's best levels.
- 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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