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Germany has all the strength to counter the impact of coronavirus if the epidemic plunged the world economy into a crisis, German Finance Minister Olaf Scholz told lawmakers on Wednesday, per Reuters.

“Any fiscal measures to counter coronavirus impact would be timely, targeted and temporary,” Scholz added. “The government is prepared and ready to act decisively to counter coronavirus.”

EUR/USD reaction

The EUR/USD pair edged lower on these comments and was last seen trading at 1.1124, down 0.42% on a daily basis.