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A new, more contagious covid strain spurred risk aversion at the weekly opening.
US Senators agreed on a historic $900 billion coronavirus relief package.
EUR/USD has bounced from back above 1.2200, the risk is skewed to the upside.
The week started in risk-off mode amid concerns about a new coronavirus strain that surged in the UK, which led to an emergency meeting of EU’s authorities. The greenback rallied throughout the first half of the day, with the negative risk-related sentiment cooling down around Wall Street’s opening. The new covid strain seems to be much more contagious, although reports so far indicate that it’s no more deadly. Even further, the European Medicines Agency said that there’s no evidence that the just developed vaccines won’t work with the new variant.