The European Central Bank held a special conference call to discuss the coronavirus situation on Tuesday, according to Reuters. Members of the Governing Council deliberated operational issues but refrained from talking about monetary policy.
The report is positive for EUR/USD. The currency pair is trading around 1.1180, up on the day. Earlier, Joe Biden’s lead in the Democratic Party’s “Super Tuesday” primaries boosted the US dollar.
On Tuesday, the US Federal Reserve announced an extraordinary rate cut of 50 basis points.