EROTF - Covid Wave Knocks Euro Down And To New 6-Year Lows Against The Swiss Franc

• Concerns about the virus surge in Europe cut short the euro's bounce and sent it back below $1.1300 and are also weighing on central European currencies, including the Hungarian forint, despite yesterday's aggressive hike of the one-week deposit rate.
• The stronger than expected October retail sales capped the week's data that points to a rebounding economy and boosts the chances of a rate hike next month.
• The nonpartisan Congressional Budget Office offered its evaluation of the Biden administration's Build Back Better initiative.

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