EU governments endorsing suspension of EU budget rules – Bloomberg

The suspension of the European Union's budget rules are endorsed by the bloc's governments, Bloomberg reported on Monday, citing sources familiar with the matter.

Meanwhile, Germany is reportedly ready to back the rescue plan for Italy that will help the country combat the coronavirus crisis.

Market reaction

The EUR/USD pair, which climbed to a daily high of 1.0827 in the early trading hours of the American session, largely ignored these headlines and was last seen trading at 1.0730, still adding 0.35% on a daily basis.