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Dealing with the effects of the COVID-19 pandemic is “Europe’s moment,” European Commission President Ursula von der Leyen said on Wednesday while delivering the Commission’s recovery proposal in parliament.

“The EU is facing a choice of each country either going it alone or responding together,” von der Leyen added. “Boldest measures are safest for the future of the EU. I want to propose a new generational pact for tomorrow that the EU is climate-neutral and digital.”

Market reaction

The EUR/USD pair largely ignored these comments and was last seen gaining 0.4% on a daily basis at 1.1024.