USD/CHF weighed down by fresh coronavirus concerns
Market concerns about the outbreak of the deadly coronavirus resurfaced on Thursday after China's Hubei province reported a sharp jump in the death toll and confirmed cases. In fact, the number of deaths in the province rose to 1,310 while 14,840 new cases were reported as of February 12.
This coupled with a subdued US dollar price action further collaborated to the pair's weaker tone. Despite fading prospects for any further rate cuts by the Fed, the greenback struggled to gain traction and remained on the defensive amid the risk-off mood-led slide in the US Treasury bond yields.


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