# Virus-driven risk-off move lifts yen versus dollar

> The yen rose about 0.7% to 110.74 per dollar on Monday as coronavirus cases climbed in Italy and the Middle East, driving a risk-off move. US stocks fell nearly 3%, gold rose to a seven-year high and oil dropped nearly 5%.

- Date: 2020-02-24 · published 2020-02-24T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/54816-virus-driven-risk-off-move-lifts-yen-versus-dollar
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Broad risk-off selling and a 5% drop in oil lower energy costs and feed-related freight expectations while signalling weaker global demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-08-05 | [Dollar down as US rate cut bets rise, yen surges](https://feedsoft.ai/events/7431-dollar-down-as-us-rate-cut-bets-rise-yen-surges.md) | +4.4% | -0.4% |
| WTI | 2017-08-31 | [Dollar Maintaining Data Inspired Gains, Yen Broadly Lower as Risk Aversion Eased - ActionForex](https://feedsoft.ai/events/69643-dollar-maintaining-data-inspired-gains-yen-broadly-lower-as-risk-aversion-eased.md) | +6.8% | +12.3% |
| WTI | 2021-07-19 | [U.S. dollar, yen climb as Delta variant crushes risk sentiment \| Financial Post](https://feedsoft.ai/events/46301-u-s-dollar-yen-climb-as-delta-variant-crushes-risk-sentiment-financial-post.md) | +0.6% | -4.7% |
| WTI | 2026-06-24 | [U.S. dollar rises to 13-month high on Fed rate hike views](https://feedsoft.ai/events/11992-u-s-dollar-rises-to-13-month-high-on-fed-rate-hike-views.md) | -5.3% | +15.5% |
| WTI | 2020-03-16 | [Latam FX caught in virus-driven rout; Chile central bank cuts rates](https://feedsoft.ai/events/6398-latam-fx-caught-in-virus-driven-rout-chile-central-bank-cuts-rates.md) | -35.6% | -29.5% |
| BRENT | 2022-06-14 | [Fed risk drubs stocks; dollar, bond yields soar \| Reuters](https://feedsoft.ai/events/40850-fed-risk-drubs-stocks-dollar-bond-yields-soar-reuters.md) | -7.7% | -11.5% |
| BRENT | 2021-08-18 | [Rand loses traction as risk-off mood dominates](https://feedsoft.ai/events/45852-rand-loses-traction-as-risk-off-mood-dominates.md) | +2.8% | +5.9% |
| BRENT | 2020-03-16 | [Latam FX caught in virus-driven rout; Chile central bank cuts rates](https://feedsoft.ai/events/6398-latam-fx-caught-in-virus-driven-rout-chile-central-bank-cuts-rates.md) | -20.5% | -23.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/02/24/forex-markets-coronavirus-in-focus.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.