The uncertainty and volatility in the financial markets is having a significant effect on foreign exchange rates. With COVID-19 causing economic panic across the globe, unstable currencies, like those below, are facing amplified effects as their values plummet. Since the pandemic began, Lebanon, Brazil, Iran, Libya, and Nigeria have joined the club of countries with inflation exceeding 25%/yr.
Beginning with the fundamental backdrop, we’re seeing an increasing number of headlines and States signaling a resurgence of COVID-19, or “Wave 2”, and talk of renewed lockdowns.
