European markets under pressure after spike in Covid-19 cases


European equities and Euro remained under pressure as several European countries reintroducing fresh lockdowns. The EUR/USD slips to a new monthly low of 1.1730 on Monday and German DAX30 witnessed the largest daily loss since June 11th. The new Coronavirus cases across Europe and the UK now reached the highest level since April.

The Czech Republic has reported growth in coronavirus confirmed cases at Europe's second-fastest pace in recent weeks and on Monday Czech Health Minister Adam Vojtech submitted his resignation following criticism over his handling of the coronavirus pandemic.

On the other hand, England's chief medical officer Whitty has warned the rate of COVID-19 infections in the UK is "heading in the wrong direction" and the country is in a "critical point" in the pandemic. UK PM Johnson's office said Sunday that those in England who refuse an order to self-isolate could be fined as much as £10,000 (S$17,465).

The number of confirmed cases of coronavirus around the world have passed 31 million, of which more than 960 thousand died and over 21 million recovered.

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