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The European Commission is mulling the option of using debt auctions to scale bond auctioıns to scale up bond issuance volumes, the EU Commissioner for Budget and Administration, Johannes Hahn, told Reuters on Tuesday.

The European Commission is looking into all market options to ensure liquidity in the secondary market for its debt, Hahn further explained.

Hahn also noted that the European Commission will build on the established teams and partners running existing borrowing programmes when needed.

Market reaction

The EUR/USD pair preserves its bullish momentum after this headline and was last seen gaining 0.13% on the day at 1.1797.