Lagarde speech: Don't know if current vaccines resistant to Omicron

Dhwani Mehta FXStreet

“We don't know if current vaccines resistant to Omicron”, European Central Bank (ECB) President Christine Lagarde said in an interview titled "Financing the Covid recovery with new economic headwinds" at the Reuters Next online conference.

Additional quotes

We don't know how fast Omicron will propagate in euro area.

Economic impact will depend on measures.

I don't see any reason why we would not draw from learnings to live with variant.

We should be on alert, take confidence from past.

Another wave was included in ECB's adverse scenario, we're still in range.

Market reaction

EUR/USD is little changed on the above comments, keeping a mild offered tone around 1.1295, as of writing.

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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