The euro was weak yesterday against the dollar but stronger against the pound, after the ECB reassured markets that it would back Italy’s government by intervening in Italian debt markets via Italy’s central bank.
ECB board member, Isabel Schnabel, said yesterday that “the ECB is ready to do everything in its mandate to counter market turmoil that disrupts monetary policy transmission.”
Travellers from outside the EU are now being turned away after the bloc imposed a 30-day travel ban to mitigate the impact of coronavirus.
German IFO data for March came in this morning at 87.7, a slight decline from the previous reading of 96.1.
