Germany's Altmaier: Measures to cushion impact of coronavirus worth several billion euros

"We expect coronavirus to impact the supply chains in the industrial sector in the coming weeks," German Economy Minister Peter Altmaier said on Tuesday.

The government measures they will take to cushion the impact of coronavirus will be worth billions of euros, Altmaier explained."The cabinet will pass more flexible short-time work rules on Wednesday to help companies bridge liquidity problems."

EUR/USD reaction

The EUR/USD pair edged higher on these remarks and was last seen trading at 1.1390, still down 0.5% on the day.