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In an interview with Fox 10 Phoenix late Wednesday, US President Trump praised China’s efforts in containing the coronavirus outbreak.

Key quotes:

“Well, I am confident that they are trying very hard.” 

 “I think the numbers are going to get progressively better as we go along.”

This comes amid fresh reports of a dramatic slowdown in the new coronavirus cases reported in the mainland that stands at the lowest since January, 25th.

However, prevalent concerns about the global economic slowdown continue to weigh on the broader market sentiment, capping the renewed upside in USD/JPY. Meanwhile, the Aussie remains close to over a decade low amid increased RBA rate cut bets.