JPY

The Japanese Yen is leading the pack ahead of the weekend, with the currency advancing against all its major peers amidst an ongoing liquidation of equity holdings in the face of the coronavirus outbreak and further gains are possible says a major Japanese bank.

A sharp sell-off in the Japanese Yen looked set to enter a second day amidst an apparent sudden shift in investor perceptions towards the Japanese economy and its currency.

The Pound continued a week long decline against the Yen Tuesday and is tipped for further losses over the coming days as a toxic cocktail of coronavirus and Brexit risks take their toll and the safe-haven Japanese unit shines.

The big eye-opener on global foreign exchange markets is the sharp and decisive decline in the Japanese Yen, a currency that is not known for its firework displays.