The coronavirus situation in Germany is worse than anything they have seen so far, German Chancellor Angela Merkel said on Monday, per Reuters.

Merkel further added that tighter curbs are needed.

Market reaction

These comments don't seem to be having a significant impact on risk sentiment. As of writing, Germany's DAX 30 Index was virtually unchanged on the day at 16,177. In the meantime, the shared currency stays on the back foot at the start of the week with the EUR/USD pair trading in the negative territory below 1.1300.