Germany's daily new coronavirus infections hit a record high on Thursday.
The number of confirmed coronavirus cases increased by 21,506 bringing the total case tally to over 597K. Cases have surged over the past couple of weeks, forcing the government to reimpose a month-long lockdown.
EUR/USD fell by nearly 1.8% to 1.1645 last week as investors offered euros on concerns that the resurgence of coronavirus would derail the economic recovery and force the European Central Bank to boost stimulus. The pair, however, has bounced back to levels above 1.18 this week amid the US election saga.
The US reached a new record high of 121,054 daily new coronavirus cases Thursday, per Johns Hopkins University data. Democrat candidate Joe Biden, who has moved closer to the White House, attended a briefing on coronavirus earlier Thursday in Wilmington, Delaware.
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