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Germany’s Finance Minister Olaf Scholz said in a statement on Monday, the European Central Bank (ECB) is currently faced with a strengthening euro.

Further comments

“German debt likely to rise to around 80% of GDP.”

“Germany to take 2021 new debt of just under EUR100 billion.”

EUR/USD attacks 1.1800

The EUR/USD pair witnessed a solid turnaround and now looks to breach the 1.1800 levels, undermined by broad US dollar rebound and Scholz’s comments on the euro strength.