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The German government and states have agreed on a coronavirus aid package to compensate the firms that are forced to close in November, Reuters reported, citing sources familiar with the matter.

The aid package will reportedly be worth up to €10 billion and the government will pay the affected small firms 75% and big firms 70% of their lost sales in November.

Market reaction

The EUR/USD pair edged slightly higher after this headline and was last seen losing 0.32% on a daily basis at 1.1755.