FX Update: Corona virus concerns return, taking JPY higher
Asian markets were shaken and the CNY traded lower as Chinese authorities moved aggressively to get ahead of the corona virus outbreak. The market action saw the usual weak transmission into FX, where the JPY saw the most pickup in volatility, if still rather modest. Elsewhere, CAD was sharply lower after a more dovish than expected turn from the Bank of Canada.
ECB Preview: A long road ahead
Today's ECB meeting should include no change in statement from the previous meeting, but it should reveal the main parameters of the strategic review that could broaden the scope of the ECB mandate.