Germany’s Chancellor Angela Merkel was on the wires in the last hour, via Reuters, expressing her concerns on the rapid growth in the coronavirus cases.
“Health authorities are near the limits of their capacity.”
“Risk is rising that more vulnerable people will get infected.”
“Hygiene measures on their own no longer enough to tackle the virus.”
“Number of people in virus patients in ICU has doubled in the last 10 days.”
“ICUs will be overwhelmed within weeks if this continues.”
As risk-aversion seeps back in Europe, the safe-haven US dollar is regaining ground, downing the EUR/USD pair back towards 1.1700.
Mixed employment data from Germany and Merkel’s comments seem to weigh on the euro. At the press time, EUR/USD drops 0.09% to trade at 1.1730.
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