Australian states NSW and Victoria to close borders as COVID-19 cases mount

Ross J Burland FXStreet

Australian states NSW and Victoria are reported to be closing their borders as COVID-19 cases mount.

The Sunday Morning Herald summarised the details of the rapid surge in cases and Australia's response as follows:

Victoria recorded 182 new coronavirus cases over the weekend, with just one of those cases in a returned traveller in hotel quarantine.

There were 20 new cases recorded across Saturday and Sunday in NSW, 19 of which were in hotel quarantine.

Residents of nine public housing towers in North Melbourne and Flemington are under total lockdown until Friday after a spike in coronavirus cases on the weekend. They have reacted frustratedly to news some of the blocks do not contain confirmed cases.

The Australian Medical Association has called for a nationwide freeze on lifting restrictions in light of the uptick in cases.

Abroad, countries from Spain to Ireland, and Israel to El Salvador are extending or reinstituting their own lockdown measures.

Market implications

So far, AUD has yet to suffer any setbacks on the news:

AUD/JPY taking on the 74.90s as bulls firm their grip despite COVID-19 risks

However, the ASX 200 Index is struggling to find a bid in the open, stuck between a 6047 and 6057 range so far, slightly damaged by the reports.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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