The euro is still strong against the dollar this morning, benefitting from dollar weakness. However, it’s still weak against the pound as the EU’s slower vaccine rollout is failing to create any optimism for a swift economic recovery. However, the ECB President, Christine Lagarde, said earlier this week that recovery could gather pace from the middle of this year.
Yesterday, the EU Parliament approved the grants and loans from a ‘Recovery and Resilience Facility’ to help EU countries tackle the effects of the COVID-19 pandemic. This funding is the biggest section of the €750 billion ‘Next Generation EU’ recovery package.
