The euro is on the backfoot during early Wednesday trading, losing ground versus other major currencies, especially against the safe havens of the US dollar and Japanese yen. Risk aversion is the prevailing mood on the markets, as the second wave of the pandemic dominates headlines and reports point to the possibility of new national lockdowns in Germany and France, while on the other side of the Atlantic uncertainty over the outcome of next week’s presidential election is also feeding into the risk-off sentiment.
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