Lagarde speech: Second coronavirus wave to affect economy well into 2021

An effective coronavirus vaccine will not be a game-changer for the European Central Bank's forecasts, Christine Lagarde, President of the ECB, told Bloomberg on Tuesday.

"Before the vaccine news, we had pretty negative news on the second 2nd wave," Lagarde added and noted that the second wave is expected to affect economy well into 2021.

Market reaction

These remarks don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was up 0.1% on the day at 1.1865.