The Japanese Yen and the Swiss Franc are finding support during early Monday trading, as investors, spooked by the sudden escalation in the number of new coronavirus cases outside of China, seek refuge in safe-haven assets. Virus related developments, specially the major outbreaks in South Korea, Iran and Italy, seem to point at much higher chances of a global pandemic than previously assumed, with the potential to seriously hinder global economic growth. The switch to a more pronounced risk-off stance in the markets, observed at the end of next week, is gaining traction, representing up-side risk for the Yen and the Franc, the two main global refuge asset currencies.
