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The next generation of the European Union’s recovery fund is key in reducing redenomination risks, Europen Central Bank (ECB) Vice President Luis de Guindos said on Wednesday, as reported by Reuter. “The next generation EU fund must be implemented swiftly,” de Guindos added.

Commenting on the appointment of Janet Yellen as the next Treasury of Secretary in the US, de Guindos said that it was good news for the US and the world economy.

Market reaction

The EUR/USD pair largely ignored these comments and was last seen gaining 0.1% on the day at 1.1898.

Expert score

5

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