24.04.2020 Usd/Jpy Daily Analysis

24.04.2020 Usd/Jpy Daily Analysis

Usd/Jpy is trading at 107.69 today, it went up with 0.11 from 107.58 Today Usd/Jpy is trading higher mainly because the Usd is in demand right now as disappointment surrounding a trial for an antiviral drug to combat Coronavirus deflated hopes for a quick breakthrough in bringing the pandemic under control. Doubts emerged over the efficacy of Gilead Sciences antiviral drug redeliver in treating the Coronavirus after the FinancialTimes reported overnight that it had failed its first randomized clinical trial. This, however, has made the dollar to be sought as the safe haven as the drug was previously thought to be one of the best prospects for testing the virus. However, Gilead disputed the report saying the study was terminated early due to low enrollment and thus the study results are inconclusive.