The dollar held gains against the yen on Thursday as growing fears that a coronavirus outbreak is turning into a pandemic drove investors to the safety of U.S. Treasuries.
The dollar also traded near a three-month high versus the pound due to worries Britain's trade talks with the European Union were stalling and dashed expectations for big fiscal spending.
The virus is now spreading faster outside of China than within, stoking fears that the economic impact of travel curbs, supply chain disruptions, and falling demand might be far greater than previously anticipated.
Benchmark 10-year U.S. Treasury yields fell to a record low for the second consecutive day on Thursday, as traders adjusted portfolios to take account of growing risks to growth.
Investors in the dollar are also focused on the release of U.S. durable goods orders and gross domestic product data later on Thursday, which could test its safe-haven status if the numbers disappoint expectations. #dollar#yen#pound#currencymarket#trade