Germany planning to suspend debt brake to give relief to local governments – Die Zeit

German Finance Minister Olaf Scholz is planning to suspend the debt brake temporarily to give relief to local governments, Reuters reported on Wednesday, citing the German newspaper Die Zeit.

Earlier in the day, Germany's DIW Economic Institue said the economy was expected to expand by only 0.1% in the first quarter of 2020.

EUR/USD reaction

The shared currency gathered strength against its rivals on this headline and the EUR/USD pair was last seen trading at 1.0900, adding 0.18% on a daily basis.