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Yen holds gains on virus woes, euro crumbles on weak growth outlook
The Japanese yen held onto gains against the dollar on Friday as renewed worries about the coronavirus outbreak supported demand for safe-haven currencies and weighed on prices of riskier assets. The Chinese yuan nursed losses in offshore trade as the flu-like virus, which emerged late last year in China’s Hubei province, slammed the brakes on consumer spending and manufacturing. The euro languished at multi-year lows versus the dollar and the Swiss franc as investors grow more pessimistic about the outlook in the euro zone before the release of gross domestic product data later on Friday. In contrast, the pound ... (full story)