Germany's Merkel: We don't need classic stimulus but liquidity to counter coronavirus impact

"We don't need a classic stimulus but liquidity to counter the coronavirus impact," German Chancellor Angela Merkel told lawmakers on Wednesday, Reuters reported, citing sources with direct knowledge of the matter.

"Everything non-essential should be cancelled," Merkel added. "Games behind closes doors are not the worst thing that can happen in this country."

EUR/USD reaction

The shared currency's reaction to these remarks was muted. As of writing, the EUR/USD pair was trading at 1.1376, erasing 70 pips, or 0.62%, on a daily basis.