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The irregular pace at which countries are carrying out their vaccination campaigns against COVID-19 poses the biggest threat to a global economic recovery, the  European Central Bank Governing Council member and Italian central bank chief Ignazio Visco warned in an interview with the Financial Times.

Key quotes (via Reuters)

“We need to maintain close international co-operation within the G20 to avoid that the different stages of the vaccination campaign in the various countries result in excessive divergences of the respective economies,”                    

“Increasing the issuance of IMF special drawing rights in order to assist developing economies in their recovery will be one of the major talking points at the meeting.”

“But the most important thing right now is getting people vaccinated.”

“The main instrument we have at the moment is neither monetary nor fiscal, it is vaccinations.”

EUR/USD attempts a bounce

EUR/USD is looking to regain the bid tone above 1.1750 amid risk-on market mood, with the S&P 500 futures higher by 0.50% while the US dollar index eases slightly to 92.98, as of writing.