Responding to the optimistic final German Q2 GDP release and the IFO survey, the country’s finance minister Olaf Scholtz said the economy was developing better than expected.
He said he was convinced that we could agree internationally in the fall on plans to tax the digital economy and on minimum taxation.
Last week, Scholz proposed a plan to extend employment subsidies by 10 billion euros.
EUR / USD is below highs of 1.1843, but is trading with sizable gains thanks to better German data and broad US dollar weakness.
At press time, the spot adds 0.43% to trade at 1.1838.