The Chinese Yuan continues to be one of the main victims of the ongoing health crisis caused by the coronavirus. The off-shore Chinese currency is slightly down against the dollar during early Friday trading, as the number of infected and fatalities attributed to the virus continues to increase.
It is worth noting how the Chinese currency recovered some of the lost ground yesterday, having at some point dropped below 7 Yuan to the Dollar for the first time since December. This followed the announcement of added measures to contain the virus although the WHO, who declared the situation to be a global health emergency, stopped short of recommending travel or trade restrictions. The relative stability of the yuan, comparatively to the scale of the health crisis in China, is therefore an indication that the markets believe the coronavirus will be contained and many of the restrictions currently in place will soon be eased.
