French Finance Minister Bruno Le Maire revised up the public deficit forecast from 9.0% to 9.4% of GDP for 2021 during early Monday, per Reuters.
“Le Maire also told France 2 television he expected economic growth to return in early 2022 to pre-COVID 19 crisis levels and he reiterated his forecast of 5% economic growth for the year,” also said the news.
EUR/USD slips below 1.2200″¦
Following the news, EUR/USD drops below 1.2200, reversing the early Asian recovery moves. However, an off in the US and the UK restricts the market’s reaction to the macro.
Read: EUR/USD teases 1.22 on USD pullback, German HICP inflation eyed
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