Australian PM Morrison: Extending ban on foreign nationals travelling from mainland China for a further week

Dhwani Mehta FXStreet

Amid fresh concerns over new China coronavirus cases gripping the markets, Australia’s Prime Minister (PM) Scott Morrison announced that they will extend the travel ban on foreign nationals from mainland China for another week, in an attempt to contain the rapidly spreading virus epidemic.

He said that the ban will be reviewed each week, extending earlier travel restrictions put in place on February, 1st.

Meanwhile, China’s Hubei province, the outbreak epicenter, announced an extension to the work suspension while urging all enterprises not to resume work until February, 20^th.

Market Implications

With broad risk-aversion, the dominant theme in Thursday’s trading so far, the higher-yielding Aussie dollar remains heavy above the 0.67 handle vs. the US dollar, having stalled its recovery near 0.6740 region.

At the press time, AUD/USD trades around 0.6715, down 0.35% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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