EUR/USD has dropped to the lowest this year, below 1.1070, after Christine Lagarde, President of the European Central Bank, said that it will take climate change into its considerations. The crisis may trigger the usage of additional monetary stimulus.
Earlier, the ECB left its interest rate unchanged at -0.50% as widely expected. The Frankfurt-based institution continues buying €20 billion per month. It also pledged to keep its policies accommodative for as long as necessary.
Another factor pushing EUR/USD down is the spread of the coronavirus. Another case has been reported in Saudi Arabia.
— more to come
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