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COVID-19 Jitters hit Asian currencies; Aussie dollar at 11-year low

Friday 21st February 2020

Asian currencies have born the brunt of rising concerns over the spread of COVID-19 beyond the Chinese mainland. NAB’s Rodrigo Catril describes how the Japanese Yen has been one of the hardest hit, whilst the risk-off sentiment added t other fall in the Aussie dollar after yesterday’s rising unemployment rate. Can we now expect a rate cut from the RBA sooner rather than later? The US meanwhile sales along nicely, with a strong read from the Philadelphia Fed’s business outlook. Today we get a swathe of PMI’s, a slew of Fed speakers and the Democratic Caucus at the weekend.

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