EUR/USD: Threat of energy crisis to continue putting pressure on the euro – Commerzbank

Today, an expert commission is expected to publish details about measures to ease the impact of high gas prices proposed by the German government. Nonetheless, the euro is set to remain under pressure as common action across Europe is what matters, economists at Commerzbank report.

EU-conflict about aid measures 

“Any measures which might dampen the economic effect of high energy costs this winter can support the euro.”

“What matters for the single currency is not just one single member state deciding on effective aid measures, but that there are support measures in place across the entire currency area. Against this background, it seems problematical that on an EU-level there seems to be a conflict regarding what measures to implement.” 

“The threat of the energy crisis is likely to continue putting pressure on the euro.”