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The US currency rose most against the risk-sensitive Australian and New Zealand dollars, gaining about 0.5 percent on each to sit at $0.6142 per Aussie and $0.5951 per kiwi .”Risk aversion and the US dollar are going hand in hand,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney.”Improvement has been based on less-bad statistics coming out of various parts of the world…but our view is that markets are going to remain choppy – we can’t expect an uninterrupted flow of singularly good or singularly bad news.”The dollar edged 0.1 percent lower to 108.55 yen. It rose a fraction against the British pound to $1.2321 and euro to $1.0878. The Aussie was also knocked by ratings agency S&P downgrading the outlook on the sovereign AAA rating from stable to negative.New York overnight reported 731 fatalities from COVID-19, the respiratory disease caused by the virus, the sharpest single-day spike, but state Governor Andrew Cuomo drew hope from an apparent levelling off in the number of hospitalisations.Across the Atlantic, British Prime Minister Boris Johnson, who has the illness, is in intensive care for a second night although his condition is stable.Elsewhere in Europe, Spain’s daily toll of coronavirus deaths rose for the first time in five days, but officials there and across the continent pushed forward with plans to begin lifting some lockdown measures soon.In Asia, the dollar rose 0.5 percent against the Korean won and lifted from a three-week low against the Chinese yuan – rising 0.1 percent to 7.0730 yuan in offshore trade.Investors are keenly watching as lockdowns lift in Wuhan, China, the epicentre of the pandemic, for clues as to how the rest of the world may fare when the worst has passed.Authorities are walking a fine line between allowing greater freedom of movement and preventing a second wave of infection, with particular concern people who show no symptoms but can still pass on the virus.Later on Wednesday, the US Federal Reserve releases minutes from its emergency meeting last month, which may include more commentary on the depth of the economic contraction that looms.”While the virus’ curve is flattening, the economic effects of the corona crisis will linger for years,” said Commonwealth Bank of Australia currency analyst Joe Capurso.”Economies will take time to re-open, some businesses will not re-open, and unemployment will take years to (recover). We think that means the dollar and yen will re-strengthen.”Topics : The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.The greenback rose on most majors besides the safe-haven Japanese yen, a day after suffering its worst drop against a basket of currencies in nearly two weeks.Safe-haven gains were slight but gathered pace in morning trade as the two-day rally in Asia’s equity markets lost steam and bonds and gold firmed.
0Shares0000Nakumatt FC head coach Melis Medo reacts on the touchline during the club’s Kenyan Premier League match against Vihiga United on October 7, 2018. PHOTO/Timothy OlobuluNAIROBI, Kenya, Oct 8 – Nakumatt FC head coach Melis Medo has torn into the club’s management over the team’s failure to automatically cling onto the Kenyan Premier League (KPL), with the side now faced with a play-off to determine whether or not they will continue playing into the top tier.Nakumatt slumped into the play-off after Sunday’s 2-0 loss to Vihiga United in Ruaraka with the coach among other things lamenting that the players have gone three months without pay while according to him a sponsor has been ready to step in, but the club’s managers have been ‘lazy’. “We have a big sponsor waiting I don’t know why they don’t want to change the name… Delay delay delay delay… I don’t know if its delay or laziness…. I don’t know what they are waiting for and it is costing this team,” the tactician told Capital Sport.He also took issue with the fact that they could not manage to secure Camp Toyoyo for their decider against Vihiga and had to play at Ruaraka, a pitch he says should not be hosting a KPL game.Nakumatt FC players converse in low tones after their defeat to Vihiga United during their Kenyan Premier League match on October 7, 2018. PHOTO/Raymond MakhayaHe added; “Again, We shouldn’t be playing here. Because of laziness on our part we didn’t register camp Toyoyo. Again, we couldn’t get Thika and we have to play on this pitch in Ruaraka.”The American born Egyptian coach says it has been difficult to motivate the players with the situation. Despite the club getting a new owner in politician Francis Mureithi, things haven’t gone as well as they would have expected.“You don’t expect much from players having not been paid for three months. They should earn a trophy as a matter of fact, we showed up fought and did our part. I don’t believe they (Vihiga) were better than us. We just had two mistakes and they scored two goals.”“For Gor Mahia, it was only one month and they did not train. For, us, it is three months and we have showed up and fought. These boys are fighters. I will never blame them. Before when we were doing okay, pay was on time and everything was on time. You can’t push them so much for 90 days. Half of the players are locked out of their homes,” Medo added.The tactician nonetheless is optimistic that if something is done between now and when they take part in the play-off, they will retain their status in the KPL.Nakumatt FC head coach Melis Medo passes instructions to Kevin Thairu and Tom Adwar during their defeat to Vihiga United in a Kenyan Premier League match on October 7, 2018. PHOTO/Timothy OlobuluNakumatt will face either Nairobi Stima or Ushuru in the play-off with the National Super League yet to be concluded.“At this point, it is not me. I did my part, infact I did more than my part but the owner needs to take care of his team. I am sure we will remain in the league if everything is taken care of,” further noted the coach.Nakumatt’s tribulations started last year when their parent company, supermarket chain Nakumatt Holdings started experiencing financial difficulties.They were handed a reprieve mid this year when politician Mureithi bought off the club, but despite a good start, things haven’t flown as smooth as was expected.0Shares0000(Visited 3 times, 1 visits today)