Spanish Foreign Minister calls for common EU rules on cross-border movement

Dhwani Mehta FXStreet

Speaking on Cadena Ser radio station, Spanish Foreign Minister Arancha Gonzalez called for European Union (EU) common rules on cross-border mobility, as coronavirus lockdowns are phased out.

Gonzalez said: "We have to work with our European partners to define the common rules that will allow us retake freedom of movement on European territory."

Earlier today, the Deutsche Presse-Agentur GmbH (DPA) reported that the German government wants to end travel warnings for tourists from June 15 for 31 European countries if the coronavirus situation allows.

Market reaction

Since the risk-on market profile extends into the European session, EUR/USD sees a fresh leg higher to 1.0940 levels as the US dollar continues to trend lower across the board.

The shared currency also benefits from Austria's softening of its stance on the EU coronavirus recovery fund.

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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