Australian PM Morrison: To reduce number of inbound resident arrivals by half

Australian Prime Minister (PM) Scott Morrison said in a statement on Friday, they will reduce the number of inbound resident arrivals to Australia by about half.

Key quotes

“To cut arrivals by around a half.”

“To be a nationwide review of hotel quarantine.”

“Not anticipating large number of Hong Kong resident applying for visas.”

“To cut resident arrivals to Australia by around 4,000 a week.“

“Will be more difficult for Australians overseas to come home.”

‘To talk to NZ PM Ardern on a trans-Tasman travel bubble.”

“Still lot of work to be done on setting up a safe travel zone.”

These comments come as the no. 2 most populous Australian state of Victoria, the COVID-19 hotpot, reports 288 new infections on Friday, up from Thursday’s +165.

Market reaction

AUD/USD remains pressured below 0.6950 amid growing coronavirus risks on the world economy.  The spot sheds 0.30% to trade at 0.6942.

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