German Economy Minister: We can reach GDP growth of up to 4% this year

The German Economy Minister, Peter Altmaier crossed the wires in the last hour and sounded optimistic about the domestic economy.

Key Quotes:

• The economy has put the worst of the coronavirus pandemic behind it.
• We can reach a GDP growth of up to 4% this year.
• We now have to organize a responsible way of phasing out massive state aid.

The comments, however, did little to provide any meaningful impetus to the shared currency or impress bulls. In fact, the EUR/USD pair extended its steady decline and was last seen trading near session lows, around the 1.2185 region.