Europe will be the first to emerge from the crisis, euro is ahead of the competition
MUFG Bank expects the euro to benefit from a faster recovery of the eurozone and German economies after the coronavirus pandemic compared to the UK and US economies. And the possibility of an agreement on EU financial support will contribute to this.
According to MUFG analyst Derek Halpenny, Europe has already survived this crisis, ahead of the UK and the U.S. According to him, Germany has coped with the coronavirus "much better than all other developed countries". The euro zone recovery fund proposed by Germany and France is likely to be approved, which will become "additional support and neutralize the risks of decline" of the euro.
The euro/dollar rose by 0.2% on Wednesday to 1.0953.