It was a mixed day for the euro yesterday, with the single currency closing down against the pound. However, it is strong against the dollar this morning. German business climate figures came in below forecasts, although European construction output year-on-year showed an unexpected jump.
Much of Europe continues to be on lockdown, with Belgium now introducing the policy, too. The EU has also instated a travel ban for anyone coming from outside of the EU27 and Schengen Area. However, ministers have agreed that any internal borders put up in the last few days should come down, according to the BBC.
The ECB have announced an emergency €750 billion package to ease the impact of coronavirus. The Pandemic Emergency Purchase Program has been revealed just a few days after initial measures from the Bank, which failed to calm the markets. ECB President, Christine Lagarde, said that there are “no limits” to their commitment to the euro.
