EUR/USD down to 1.0788
Another day, another meeting, another failure to agree.
The good news is that the did agree on the need for coronavirus recovery support but they tasked the EU Commission to assets the needs and propose a way to finance it.
This is the EU’s version of ‘we’ve decided to study it’. The market doesn’t want a study, it wants action but the differences and structure of the eurozone make it so difficult. The euro truly was a 21st century solution to 20th century problems. We’re now in the era of debt monetization and European countries can’t participate.