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“We are looking very carefully at data on the economic impact of coronavirus,” International Monetary Fund (IMF) Managing Director Kristalina Georgieva told CNBC on Wednesday.

“We are confident that the ECB will make the right call in response to coronavirus,” Georgieva added. “China is aiming to get to 90% production by the end of the month. The US financial system is holding; there is quite substantial gearing up on measures to slow down the impact of the virus.”

Market reaction

These comments were largely ignored by the market participants and the EUR/USD pair was last seen trading at 1.1130, erasing 0.37% on a daily basis.