USD/JPY backs off ten-month peak

USD/JPY fell off April 2019 highs for the fourth session out of six, ahead of US data and multiple speeches by Fed officials today, while investors assess the global spread of the coronavirus. 

As of 06:09 GMT, USD/JPY shed 0.35% to 110.04, with an intraday low at 109.97. 

Japanese Prime Minisrer Shinzo Abe asked for putting off all sports or cultural gatherings for two weeks to contain the virus, while noting the economy is improving well. 

Abe asserted his government is still preparing for the Tokyo Olympiad 2020 despite reports of a possible cancellation.  

From the US, GDP is expected up 2.1% in the fourth quarter, while GDP prices are estimated up 1.4%, same as before. 

Durable goods orders fell 1.5% In January, while core orders rose 0.2%. 

Unemployment claims for the week ending February 15 are expected up a thousand to 211 thousand, while existing home sales are estimated up 2.8%. 

US authorities said they identified a coronavirus victim who hasn't traveled to China or made contact with any other victim, sparking further concerns.