Germany's Altmaier: Aid package announced on Monday is just a first step

German Economy Minister Peter Altmaier said on Monday that the aid package announced on Monday was just a first step in their efforts to support the economy in the face of the coronavirus outbreak.

Earlier in the day, citing a ministry source familiar with the matter, Reuters reported that German Finance Minister Olaf Scholz was ready to mull a post-virus stimulus package.

Market reaction

Boosted by the upbeat mood and the broad-based USD weakness, the EUR/USD pair is up 1.5% on the day at 1.0880.