South Korea confirms 256 more coronavirus cases, total 2022

South Korea confirms 256 more coronavirus cases, total 2022, the largest outbreak to date outside China. With an American service member among those infected, the US has postponed scheduled joint military drills with South Korea and urged Americans to avoid travel to the country.

The World Health Organization (WHO) continues to say there's time to rein in the virus, declining to label it a global pandemic. However, with cases in more than 45 countries and the disease spreading fast outside China, most significantly in South Korea, Italy and Iran, the WHO chief said the world had reached a "decisive point" in the battle against it.

FX implications

The coronavirus updates have been impacting the yen, AUD, yuan, oil, gold, sending stocks markets into official correction territories and global yields lower, with the US 10-year extending to fresh record lows. The yen is traditionally the go-to currency in the FX apace at times of risk-off.

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