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“We must prepare for quite a lengthy period of coronavirus pandemic,” European Central Bank (ECB) Governing Council member Olli Rehn said on Friday. “It’s essential for the euro area governments to get acts together and coordinate a fiscal response.”

“It’s important to have stronger European financial instruments such as safe assets,” Rehn added argued that governments should agree on a common safe asset.

EUR/USD reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.0730, adding 0.35% on a daily basis.