Coronavirus update: State of Victoria imposes six-week lockdown for Melbourne city

Dhwani Mehta FXStreet

At a press conference held on Tuesday, Australia’s Victoria state Premier Daniel Andrews announced a six-week lockdown for Melbourne city, as the coronavirus outbreak appears uncontrollable.

Additional details

“It's why based on the advice of the Chief Health Officer and across metropolitan Melbourne and Mitchell Shire, Stage 3 "Stay at Home" restrictions will be reinstated from 11:59pm on Wednesday 8 July.”

“For six weeks, and if you live in these areas, there'll be only four reasons to leave your home: Shopping for food and essential items. Care and caregiving. Daily exercise. Work and study - if you can't do it from home.”

“Otherwise: Stay home. Stay home. Stay home. In case it needs repeating, stay home. We are fighting a global and deadly pandemic.”

“This Stay at Home direction will apply to your principal place of residence - that means no escaping to holiday homes.”

“And because we need to limit the spread of the virus across our state, there will only be three reasons to cross the border of these metropolitan areas: Shopping for food and essential items. Care and caregiving. Work and study - if you can't do it from home.”

Earlier today, an Australian newspaper reported that Andrews was considering a 4-week state-wide lockdown.

Market reaction

The aussie dollar has come under fresh supply on the above announcement, as AUD/USD stalls its recovery mode near 0.6975.

The spot now loses 0.15% to trade at 0.6965.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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