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During his Coronavirus Task Force Briefings for Monday, early Tuesday in Asia, US President Donald Trump said that the numbers of daily infections remain flat and strategy to slow the spread is working. Also confirming the optimism was upbeat comments from the team member, Dr. Anothony Fauci, the director of the National Institute of Allergy and Infectious Diseases.

Key quotes

Number of daily new coronavirus infections remains flat.

This is clear evidence that strategy to slow the spread is working.

Fauci says even though we had a bad week last week, we’re starting to see a few areas a flattening especially in hot spots like New York.

Fauci says it’s obvious that if mitigation had been started earlier, more lives would have been saved but if it was initiated later, more lives would have been lost.

FX implications

While the news should have ideally offered some pullback to market’s risk-tone, early Asia limits the reaction with a mild uptick in the US stock futures by the press time.