US VP Pence: Despite latest coronavirus-related deaths, risk to Americans remains low

Anil Panchal FXStreet

In his meeting with the coronavirus taskforce team, the US Vice President (VP) Mike Pence tried to placate the fears of a widespread outbreak of the deadly virus based on the news of the latest deaths.

Key quotes

Within 12 hours, airports across South Korea and Italy will conduct 100% screenings for coronavirus.

There may be some cluster cases of coronavirus.

Risk on virus to the US remains low.

Could be a vaccine going to clinical trials in 6 weeks.

Therapeutics may be ready by late summer, fall.

FX implications

With the global traders keenly awaiting G7 leaders’ response to the coronavirus (COVID-19), RBA becomes the immediate catalyst, such news fail to have any major immediate market reaction. However, it does contribute to the risk recovery portrayed on Monday.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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