The yen traded near a nine-month low versus the dollar Thursday, as risk appetite improved on expectations that China would continue to take steps to reduce the economic impacts of the COVID-19 outbreak.
The yuan fell against the dollar in onshore trade after China cut the benchmark loan prime rate to prop up its economy.
The rate cut was expected, but some investors anticipate more reductions in the near term as authorities move to assist companies by further lowering financing costs.
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