10:01 AM · 17 July 2020

Euro gains as EU leaders discuss recovery fund

Euro is one of the best performing G10 currencies on Friday with EURUSD climbing back above 1.14 handle. Discussions over the final shape of European post-Covid recovery fund are starting today and EU leaders are expected to negotiate for at least two days. However, the fact that the final decision on a €750 billion stimulus package needs unanimous support from 27 European countries creates a high risk of failure.

EURUSD climbs back above 1.14 as EU leaders try to reach consensus on post-Covid recovery fund. Source: xStation5

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