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The economic damage of the second coronavirus wave probably is less dramatic than the first, European Central Bank (ECB) Governing Council member Klaas Knot said on Tuesday, as reported by Reuters.

Knot further noted that the economic growth in Europe seems to be slowing and added that it was too early to say if the ECB’s emergency support measures need to be extended.

Market reaction

The EUR/USD pair largely ignored these comments and was last seen losing 0.2% on the day at 1.1790.