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German Chancellor Angela Merkel on Monday reiterated that no net new debt remains the guiding principle for their budget policy and added that they can still generate growth with it.

On a similar note,  “We have a very expansionary financial policy, an all-time high in public investment,” German Finance Minister Olaf Scholz said earlier this month regarding the possibility of Germany introducing fiscal stimulus.

Merkel’s comments were largely ignored by market participants and the EUR/USD pair was last seen trading at 1.1057, adding 0.06% on a daily basis.