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Italian Prime Minister (PM) Giuseppe Conte announced on Monday that they will be setting nightly curfew nationwide to limit the spread of the coronavirus, as reported by Reuters.

Additional takeaways

“Evolution of the epidemic in Italy is very worrying.”

“There is high possibility that 15 of 20 regions will exceed the critical level of intensive care within a month.”

“We must intervene with more stringent measures.”

“On basis of the government’s scientific experts, we must introduce different measures from region to region.”

“The new government decree will divide the country into 3 areas based on the degree of risk.”

“For the whole of the country, there will be a general reinforcement of measures already in place, closing shopping centres at weekends.”

“Will lower urban public transport capacity limit to 50% vs 80% at present.”

Market reaction

This announcement doesn’t seem to be having a negative impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was virtually unchanged on a daily basis at 1.1650.