Yen and euro soar as investors stampede to safety amid coronavirus worries

Yen and euro soar as investors stampede to safety amid coronavirus worries

09 Mar 2020 09:20 AM
 

The safe-haven yen soared, the euro jumped after U.S. treasury yields dropped and export sensitive currencies fell to multi-year lows on Monday as coronavirus fears routed global markets.   

The yen jumped more than 3% to a day high of 101.61 per dollar, its highest in three years and the sharpest daily jump since mid-2016. Currently yen is trading at 102.30 per dollar.

The euro rose more than 1.6% to an almost two-year peak of $1.1492. Currently euro is trading at $1.1418.

The number of people infected with the coronavirus has topped 107,000 across the world as the outbreak reached more countries and caused more economic disruption.

The yield on 10-year U.S. Treasuries went under 0.5% for the first time, amid a rush for the safety of bonds.