EU’s von der Leyen: Deal on the recovery fund and budget is a signal Europe is able to act

Dhwani Mehta FXStreet

Ursula von der Leyen, President of the European Commission said in a statement on Tuesday, the agreement on the recovery fund and budget is a signal Europe is able to act.

Additional quotes

"Europe has the imagination and courage to think big, this is a historic moment in Europe."

"We have now new revenue streams for the EU, linked to the repayment of the borrowing for recovery."

"The new budget will power the European green deal and digitalization."

"Europe as a whole has now a big chance to come out stronger from the crisis."

"Tonight, is a big step forward toward recovery."

Market reaction

EUR/USD extends retreat from four-month highs, now trading below 1.1450, almost unchanged on the day. Sell the fact trading seems to be the main reason behind the major's fall.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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