According to Bloomberg, German Chancellor Angela Merkel and leaders of her Christian Democratic Union will be holding a meeting at 5 pm in Berlin with their counterparts at the Bavarian Christian Social Union in an effort to reach an agreement regarding the migration policy.
“Without a compromise, both sides risk a historic breakup of the party bloc that’s governed Germany for most of the time since World War II. That would escalate a political crisis that could leave Merkel without a parliamentary majority and throw the CSU into the political wilderness ahead of a regional election in the fall,” report Bloomberg’s Arne Delfs and Oliver Sachgau.
Political jitters in Germany and a stronger greenback weigh on the EUR/USD pair on Monday, As of writing, the pair was down 0.65% on the day at 1.1610.
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