Coronavirus update: Germany virus reproduction rate drops further to 0.70

According to the latest data from the German disease and epidemic control center, Robert Koch Institute (RKI), the number of confirmed coronavirus cases rose to 179,364 with a total of 8,349 deaths reported on Wednesday.

Cases increased by 362 in Germany on Wednesday versus Tuesday’s +432. The death toll rose by 47, the tally showed.

The institute estimates the virus reproduction rate (R-value) stays below the 1.0 key level, estimated at 0.70 as of Tuesday. `

The total estimate of about 162,800 persons has recovered as of the latest update.

EUR/USD challenges lows on 1.0900

EUR/USD holds the lower ground, flirting with the daily low of 1.0955, as the US dollar rebound across the board amid growing US-China tensions.

The drop in the German virus reproduction rate could likely offer some reprieve to the EUR bulls, as the focus shifts to the ECB President Lagarde’s speech later today.