‘Critical Time’: Australia Faces New Phase of Pandemic - Kakiforex.com - Financial Market Media No. 1 in the World ‘Critical Time’: Australia Faces New Phase of Pandemic ‘Critical Time’: Australia Faces New Phase of Pandemic

June 28, 2021

‘Critical Time’: Australia Faces New Phase of Pandemic

 The surge in Covid-19 infection cases in Australia put Aussie dollar trading under pressure earlier in the week.

The COVID-19 response committee chaired by Prime Minister Scott Morrison will hold an emergency meeting today to discuss steps that need to be taken to curb this spread.

The surge of cases in Sydney linked to the Delta variant from India which is spreading very fast, has increased to 130 cases so far. Cases have also been recorded in the Northern Territory, Queensland and Western Australia.

This has led the New South Wales (NSW) state government to extend the closure to the entire city of Greater Sydney, the Blue Mountains, the Central Coast and Wollongong involving about 5 million residents.

18 new local cases were reported in NSW on Monday, up from 30 days earlier, bringing the total number of infections in the latest outbreak to 130 since the first case was detected almost two weeks ago.

Meanwhile, federal Treasurer Josh Fryndenberg told that Australia is now entering a new phase of the pandemic, with Delta pressure spreading faster. He also added Australia was facing a critical time in its fight against Covid-19.

The Aussie dollar fell 0.15% at the opening of the Asian session today around 0.7572, before returning to climb at 0.7600 during the start of the European session following the depreciation of the US dollar.

Investors are now awaiting the latest announcement from the Australian government as a result of a meeting of the Covid-19 response committee and leaders today.