The euro is strong this morning against both the pound and the dollar. A strong auction for EU bonds is thought to have helped the single currency, which saw the European Commission auction 10y and 20y supranational social bonds to finance its €100bn SURE programme.
The SURE programme (Support to mitigate Unemployment Risks in an Emergency) is a fund made available for member states that need finance to combat the negative economic and social consequences of the coronavirus outbreak.
There will be speeches from ECB officials today, including ECB President Christine Lagarde and the EU’s Chief Economist, Philip Lane.
