The euro is continuing to strengthen against the dollar as positive vaccine news and flattening COVID-19 cases across Europe help it to climb higher.
Hungary and Poland have blocked approval of the EU’s budget, which includes the €750bn COVID recovery fund, over a clause that ties funding with adherence to the rule of law. Final approval for the budget needs unanimous support, which means that the entire plan hangs in the balance and could pose an issue when the money needs to be accessed in January.
Inflation rate figures for the eurozone will be released later today.
