Japan’s Aso: We are seeing single-handed rise in the dollar vs. other currencies

Dhwani Mehta FXStreet

“We are seeing a single-handed rise in the dollar vs. other currencies, which likely driven by investors' anxiety over the coronavirus outbreak,” said the Japanese Finance Minister Aso while speaking before the parliament on Tuesday.

"Everyone is buying dollars. That's leading to declines in other currencies. Stocks and bond prices are both falling, which is something that has not happened before," he added.

USD/JPY keeps range below 110.50

USD/JPY consolidates its drop to near 110.10 region, divided between broad US dollar weakness and the risk-on rally in the global equities and Wall Street futures.

At the timing of writing, the spot trades at 111.35, down 0.73% so far. The upside attempts remain capped by the 110.50 levels while markets digest the latest comments from the Japanese Finance Minister.

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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