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Euro breaking higher amid signs of compromise in EU Recovery Fund talks
Traders come to their desks on Monday with a cautious risk positive tone to sentiment. Europe is the focus this morning. There have been three days of intense discussions over the format of the proposed EU Recovery Fund, and as yet no agreement on how the push forward. However, the EU-27 are close. For now, the “Frugal Four” (The Netherlands, Austria, Denmark and Sweden) are still standing in the way of agreement, but apparently Denmark is wavering and there is not too much between the two sides. The proportion of grants and loans of the €750bn package seem to be the sticking points, and there could be ... (full story)
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