It is becoming really very tough to keep a check on the pandemic Covid-19 in some regions but one can easily make out that the market a little for being uncertain as we are heading into H2’2020 and as a result, showing more risk aversion again and again. Of course, some economic data has admittedly been positive, which is also likely to be the case with today’s US ADP index or tomorrow’s US labour market report for June. The apprehensive news are increasing and is tainting the emerging optimism and hence, wise hedging seems to be highly essential: there are many new partial lockdowns around the globe, central bankers such as Fed Chairman Jerome Powell seem concerned about the slow economic recovery (according to Powell the economic outlook was “extraordinarily uncertain”), the tensions between the US and China are rising again (just think Hong Kong), there is a lack of process in the Brexit process and as a result a clear risk of a no deal scenario at the end of the year, there is disagreement within the EU about the EUR750bn recovery plan but at the same time the expectations in the EU summit on 17thJuly are high. There is enough there to cause some uncertainty. And that is why the dollar is in demand with EUR-USD trading at the lower end of the 1.1170-1.1420 range.