Japan says it found new coronavirus variant similar to UK strain – Bloomberg

Anil Panchal FXStreet

Bloomberg came out with the news signalling a new coronavirus (COVID-19) variant, having similar characteristics to that from the UK’s covid strain, during its latest news.

The report relied on the comments from Japan’s National Institute of Infectious Diseases (NIID) that said, authorities have found a new strain of the coronavirus in four passengers arriving from Brazil.

The NIID also said, per the report, “The new variant has similarities to strains found in the UK and South Africa.” Updates from the Asian major also convey, “The information about the new variant is limited to its genetic make-up, and it’s difficult to immediately determine how infectious the strain is or the effectiveness of current vaccines against it.”

Market implications

Although the news should ideally weigh on risks, the risk barometer in Asia, AUD/USD, remains mostly positive around 0.7750 by press time. The reason could be traced from increased hopes of the US covid aid package.

Read: AUD/USD: Bulls and bears jostle around mid-0.7700s amid US stimulus hopes

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD tests 1.1700 barrier after EMAs rebound

EUR/USD edges higher after registering modest losses in the previous session, trading around 1.1700 during the Asian hours on Thursday. The technical analysis of the daily chart shows that the pair remains within the descending channel pattern, suggesting an ongoing bearish bias.

GBP/USD strengthens above 1.3400 as UK inflation beats forecasts

The GBP/USD pair gains ground to near 1.3435 during the early European session on Tuesday. The Pound Sterling edges higher against the US Dollar as UK inflation rose more than expected in December. Markets might turn cautious later in the day ahead of a slew of US economic data.

Gold weakens as safe-haven demand fades on Trump's U-turn

Gold extends the overnight pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifts lower through the Asian session on Thursday, snapping a three-day winning streak. The global risk sentiment gets a strong boost in reaction to US President Donald Trump's U-turn on Greenland and easing geopolitical tensions.

Top Crypto Gainers: Canton, MYX Finance, Pump.fun rise as the market steadies

Canton, MYX Finance, and Pump.fun are leading the recovery over the last 24 hours as the broader cryptocurrency market takes a breather after sharp losses. Technically, the recovering altcoins are closing toward key resistances as selling pressure eases.

TACO Wednesday and the great market exhale

Markets did not so much trade on Wednesday as they collectively unclenched. After a bruising bout of headline-induced indigestion, every major asset class caught a bid at once. Stocks up. Bonds up. Gold up, then cooling. Crypto rebounding. Crude firming. Even the dollar found its feet.

Axie Infinity extends gains as bullish momentum targets $3

Axie Infinity (AXS) extends its gains by 8%, trading above $2.56 at the time of writing on Thursday, after rallying over 37% this week. The bullish price action is further strengthened by rising whale accumulation volume.