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Forex News

Main priority is to slow the spread of the coronavirus to avoid recession

Speaking on public television, the German Economy Minister Peter Altmaier said government’s main priority is to slow the spread of the coronavirus in the country.

He added that the slower the virus’s spread, the more likely it was that a recession could be avoided in the second half.

Measures already agreed to support the economy, which include support for workers facing reduced working hours, could be extended if necessary, Altmaier said.

The number of confirmed virus cases in Germany topped 1000 on Monday.

EUR/USD remains below 1.1350

EUR/USD extends its corrective slide further towards the 1.13 handle, as the US dollar recovery across the board picks ups strength amid a rise in the US Treasury yields.

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