The European Commission is set to unveil a blueprint on Tuesday, which will outline how the European Union (EU) can strengthen the internationalization role of the euro and thereby reduce the dollar’s dominance, Bloomberg reports, citing a draft of the plan. The Commission’s likely move is considered to insulate the bloc from financial risks. Key points from the draft document “The extra-territorial application of unilateral sanctions by third countries has seriously affected the EU’s and its member states’ ability to advance foreign policy objectives, to honor international agreements and to manage bilateral relations with sanctioned countries.” “At times, unilateral actions by third countries have compromised legitimate trade and investment of EU businesses with other countries.” “The plan also includes measures to help protect against currency shocks, and allow greater scrutiny of foreign takeovers.” “Promoting sustainable finance is an opportunity to develop EU financial markets into a global ‘green finance’ hub, bolstering the euro as the default currency for the denomination of sustainable financial products.” Market reaction EUR/USD keeps its range near 1.2100, up 0.17% on the day, mainly driven by a broadly weaker US dollar amid bigger fiscal stimulus expectations. EUR/USD testing 1.2100 amid USD pullback, ahead of ZEW, Yellen FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next FX option expiries for Jan 19 NY cut FX Street 2 years The European Commission is set to unveil a blueprint on Tuesday, which will outline how the European Union (EU) can strengthen the internationalization role of the euro and thereby reduce the dollar’s dominance, Bloomberg reports, citing a draft of the plan. The Commission’s likely move is considered to insulate the bloc from financial risks. Key points from the draft document “The extra-territorial application of unilateral sanctions by third countries has seriously affected the EU’s and its member states’ ability to advance foreign policy objectives, to honor international agreements and to manage bilateral relations with sanctioned countries.” “At times, unilateral actions by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
