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European Parliament and the European Union governments have reached a deal on the EU’s 2021-2027 budget, Reuters reported.

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Market reaction

With the initial market reaction, the shared currency gathered strength against its rivals. The EUR/USD pair is currently up 0.06% on a daily basis at 1.1820. Meanwhile, the Euro Stoxx 50 Index is up nearly 1% on the day at 3,440 following this development and Germany’s DAX 30 is rising 0.67% at 13,183.