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Denmark’s Health Ministry confirmed the first coronavirus infection on Thursday, as the virus outbreak rapidly spreads across the European continent. The man returned from a ski holiday in northern Italy and is now quarantined at home.

Meanwhile, Iraq has confirmed its sixth case of coronavirus, the health ministry said.

A young Iraqi man in Baghdad who had traveled from Iran was detected with the infection.  

Market implications

With the virus outbreak spread over 42 countries, the market mood remains sour with investors scurrying for safe-havens and selling off higher-yielding assets.

Amid a slump in the US equity futures and Treasury yields, EUR/USD is struggling to extend the upside above the 1.09 handle while the yen continues to draw bids amid broad risk-aversion.