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Early Tuesday in Asia, Sydney Morning Herald (SMH) quoted Australian Prime Minister Scott Morrison who spoke to a local radio station during late Monday. While the national leader praised the government’s activity restriction measures by saying, “The systems are working”, he also shared optimism on easing the border restrictions between Victoria and New South Wales (NSW).

The news also conveyed four new cases of the virus found in the nation with NSW recording zero figures for locally acquired coronavirus (COVID-19) while Victoria marking three cases.

FX implications

Considering the fears of covid resurgence backed by the virus variants, global markets paid a little to the upbeat news from Australia. However, the news helps AUD/USD to extend corrective pullback from 0.7642 towards regaining the 0.7700 threshold, currently around 0.7670.

Read: Coronavirus update: Covid strain mark presence in New York, Norhern Ireland backs stay at home order