Reuters is out with the latest headlines, citing that the German Chancellor Angela Merkel and Spanish Prime Minister (PM) Pedro Sanchez will meet next Tuesday for talks on the European Union (EU) recovery fund.
The meeting is likely to be held to clear out their positions ahead of the EU Summit on the long-term budget and coronavirus recovery fund on July 17-18.
In the last hour, the European Council President Charles Michel proposed the bloc’s next budget at EU1.074 trillion while maintaining the EUR750 billion proposal for the COVID-19 recovery fund.
EUR/USD challenges 1.1300
The shared currency cheers the above headlines, as EUR/USD challenges highs at 1.1297, up 0.03% on the day.
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