XE Market Analysis: Europe – Jul 17, 2020

Currencies have hunkered down in narrow ranges, with the dollar and yen consolidating after rising against most other units yesterday. Global stock markets are lacking direction, too. The persisting pandemic remains a concern for investors, and even though the lack of fresh cases in many reopened countries which experienced pronounced infections (including to no-lockdown, no-mask Sweden) — pointing to herd immunity, with the 2020 virus/all-cause mortality curves now looking like nothing more than a bad respiratory illness season — is going largely unreported.