During the early Wednesday morning in Asia, Bloomberg came out with the news, citing Japanese press Asahi, with signs that Tokyo will escalate the coronavirus (COVID-19) alert to the highest levels.
The news seems to have capped the market’s latest risk-on mood. As a result, USD/JPY drops to 107.25 ahead of the key Bank of Japan (BOJ) monetary policy meeting, up for publishing at 03:00 GMT.
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