American authorities have issued a travel warning for China as cases of the coronavirus disease are rising. The US changed its terms from “Exercise increased caution” to “Reconsider travel”
The market mood remains damp and the safe-haven yen finds fresh demand. USD/JPY is trading below 109.50, extending its decline.
Earlier, Singapore confirmed its first case of the virus. The Chinese city of Wuhan, where the virus originated from remains under a virtual siege. Other cities are also monitored closely. A total of 23 million people are cut off of the possibility to travel and many cities have canceled their Lunar New Year celebrations.
The virus and the response to it may cause damage to the global economy and are weighing on stocks.