Germany’s influential IFO said on Monday, about one fifth (21%) of the German companies see their survival threatened by the coronavirus crisis.
“Travel agents, hotels and restaurants are particularly concerned.”
“We could see a wave of insolvencies in the coming months.”
The shared currency is unperturbed by the above report, as EUR/USD continue to trade solidly bid amid a risk-on rally in the Asian stocks that dull the safe-haven appeal of the US dollar.
EUR/USD closes in on the 1.13 handle, up 0.40% on the day.
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