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Late-Monday, Dr. Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases (NIH), warned CNN’s Jake Tapper that the latest data on a rising number of the coronavirus (COVID-19) cases and projections of more deaths “jolt” the American public into reality.

The health expert also cites a model from the Institute for Health Metrics and Evaluation (IHME) developed at the University of Washington that projects another 181,000 deaths in the United States by February.

Meanwhile, the US Centers for Disease Control and Prevention (CDC) on Monday reported 7,740,934 cases of the new coronavirus, an increase of 46,069 from its previous count, and said that the number of deaths had risen by 494 to 214,108, per Reuters.

FX implications

Such news, despite given a less importance off-late, keeps escalating downside pressure on the risk sentiment. However, the market presently cares more about the US COVID-19 aid package chatters and hence ignored comments from the US health expert. In doing so, Wall Street cheered the run-up backed by technology shares.

Read: Wall Street Close: Big-tech drives rally on Wall Street