USD/JPY Near 108 on New York Ebola Case

The yen rose for the first time in seven days against the dollar after a New York City doctor tested positive for Ebola, boosting demand for haven assets.

Japan’s currency strengthened at least 0.2 percent versus all of its 16 major counterparts as the diagnosis is the first of the deadly disease to be made in the most populous U.S. city. Treasuries advanced, while futures on the Standard & Poor’s 500 Index of shares declined. The Australian dollar and South Korean won weakened.

“We’re seeing a fall in equity futures and dollar-yen on fears of a potential pandemic,” said Greg Gibbs, the head of Asia-Pacific markets strategy at Royal Bank of Scotland Group Plc in Singapore. “There is a bubbling fear percolating in the background. Ebola is certainly on the market’s radar.”

Bloomberg

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