Dollar had not seen growth in a few days but on Jan 24th, at 0750 GMT, dollar climbed 0.1% against the yen. After the troubling situation in China, this is a huge relief. The corona virus is wreaking havoc in the country. Now many patients have been quarantined. And the situation is now better or under control. It may soon become a global emergency. 830 people in China are infected by the corona virus, while 25 are dead.
According to XTB, the forex trading platform, things aren’t going so well for the Euro as well. At a meeting on Thursday, European Central Bank informed that for Euro there will be no immediate movement from its current monetary policy. The president of the European Central Bank, Christine Lagarde, said that the bank was on autopilot. But others aren’t as confident about it as the president.
Holger, a Berenberg bank chief economic wrote in his research paper about the situation of Euro. He wrote that if there is a stimulus already in the pipeline, the ECB will need no policy adjustments. The bank will hold off any changes until it undergoes a complete policy review. EUR was at a 0.1% lower at 1.1048 and EUR was down 0.1% at 0.8417.
Tedros Adhanom Ghebreyesus, the WHO’s director-general, said – “Make no mistake, this is an emergency in China, but it has not yet become a global health emergency,” in a briefing in Thursday in a briefing. And the president of the ECB, Christine Lagarde said that if the downward growth of the currency spirals further down then they will have to take higher risk of further stimulus measures.
