Gold scaled its highest in seven years and was last up 1%, having added over 3% this week. Τhe spread of coronavirus cases boosted demand for traditional safety plays from bonds to gold.

The Japanese yen fell past 112 against the dollar to a 10-month low extending its previous day’s slide against greenback’s broad rally.

UK inflation jumped to 1.8% in January compared with 1.3% in December, not far off the BoE’s 2% target, sending sterling to a session high of $1.3023.

Investors eye euro close to $1.0830, its lowest since April 2017, after German’s ZEW survey showed that investor’s confidence slipped.

Nervous investors calmed as China promises further policy stimulus to counteract the economic hit from a coronavirus outbreak.