 Risk aversion deepens in global financial markets today as China's Wuhan coronavirus is clearly spreading to other countries. Gold surges to seven-year high on safe haven flow while Asian stocks are generally pressured. The currency markets are relatively quiet though as major pairs and crosses settle back into Friday's range after initial spike. Dollar and Yen are currently the firmer ones while commodity currencies are soft. Technically, 1.3278 minor resistance will be a focus today. Break will indicate completion of recent corrective pull back from 1.3329 and bring retest of this resistance. Yen crosses are generally seen as in consolidation, despite retreat. We'd expect more selloff in Yen at a later stage, as Japan will remain one of the countries most affected by China's coronavirus. In Asia, Japan is on holiday today. Hong Kong HSI is down -1.47%. China Shanghai SSE is down -0.31%. Singapore Strait Times is down -0.97%. | 
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