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“We are doing everything to shield the German economy from the coronavirus impact,” Germany’s Economy Minister Altmaier said on Tuesday. “The government will secure liquidity of companies, especially for small- and medium-sized firms, affected by coronavirus.”

Altmaier further noted that the ruling coalition party is planning further steps to reduce the tax burden for companies and reiterated that they are we’re determined to avoid an economic crisis, as reported by Reuters.

EUR/USD reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1165, adding 0.3% on a daily basis.