WHO's Tedros: This is the time to pull out all the stops, risk-off at full steam

Dhwani Mehta FXStreet

Amid unnerved markets, the World Health Organization (WHO) Chief Tedros Adhanom Ghebreyesus came out on the wires this Thursday, warning that this is the time to pull out all the stops.

Tedros added that there are encouraging signs from S. Korea on virus, seeing decline in number of newly reported cases.

The fast-spreading virus has spooked the investors, as it grows rapidly across the world and kills the appetite for risk assets across the board.

The number of confirmed cases in the UK has risen to 115 from 85 the day before.

Meanwhile, the coronavirus death toll in the worst-affected Italian region Lombardy rose to 98 from 73 day before, per Reuters.

S. Korea, Germany report new coronavirus cases, Switzerland confirms its first death

Market reaction

Markets seek safety in the US bond, selling-off the US dollar with the US Treasury yields. S&P 500 futures also shed 1.30%, as USD/JPY trade near half-yearly lows of 106.61, down 0.80% 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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