TOKYO - The euro hovered near a seven-week low against the dollar on Friday after the European Central Bank was seen as more cautious than expected, while anxiety over China’s coronavirus outbreak propped up the safe-haven yen.
ECB President Christine Lagarde told a news conference that risks to growth in the euro zone remained tilted to the downside and traders took her overall tone as dovish. Purchasing Managers’ Index data from Germany and the euro zone due later on Friday is the next focus for the currency. Yet many investors were anxious as the epidemic spreads within China, killing 25 people in China and infecting more than 800.
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