Responding to the French-German EU recovery fund proposal on Monday, European Central Bank (ECB) President Christine Lagarde welcomed the news in a joint interview with four European newspapers. Key quotes “The Franco-German proposals are ambitious, targeted and, of course, welcome.” “They pave the way for the European Commission to borrow funds over the long term and, above all, they allow a substantial amount of direct support to be provided to the countries most affected by the crisis.” After two months of impending talks, France and German, finally, proposed for a 500 billion-euro ($546 billion) coronavirus recovery fund to help cushion the economic blow from the virus impact. Market reaction On the announcement of the plan, EUR/USD jumped to two-week highs of 1.0927. At the press time, the spot trades on the back foot just above the 1.09 handle, suffering from broad US dollar rebound amid rising US-China tensions. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Price Analysis: Bears look to confirm immediate rising wedge amid fresh risk-off FX Street 2 years Responding to the French-German EU recovery fund proposal on Monday, European Central Bank (ECB) President Christine Lagarde welcomed the news in a joint interview with four European newspapers. Key quotes “The Franco-German proposals are ambitious, targeted and, of course, welcome.” “They pave the way for the European Commission to borrow funds over the long term and, above all, they allow a substantial amount of direct support to be provided to the countries most affected by the crisis.” After two months of impending talks, France and German, finally, proposed for a 500 billion-euro ($546 billion) coronavirus recovery fund to help cushion the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
