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The European Commission is planning to boost its 2-billion-euro emergency fund to buy COVID-19 vaccines in advance, Reuters reported on Friday, citing two EU sources familiar with the matter.

Additionally, sources noted that the Commission seeks mandate to negotiate with a seventh COVID-19 vaccine market and estimates 2.4 billion vaccines will be available globally next year.

Market reaction

This headline doesn’t seem to be having a significant impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was virtually unchanged on the day at 1.1847.