France's Le Maire: Need to look more to fiscal policy than monetary policy in response to coronavirus

"Today, there are no supply problems or shortages for essential goods due to coronavirus," noted French Finance Minister Bruno Le Maire but added that it is important to consider all options including budgetary measures.

"If there is a time when there needs to be flexibility on budgetary rules, it is when we are dealing with a health crisis," Le Maire added. "We need to look more to fiscal policy than monetary policy in our response to coronavirus."

Le Maire further said that the G7's message will show the G7 countries' determination to have a strong and fast reaction to coronavirus.

EUR/USD reaction

The EUR/USD pair continues to edge lower during the European trading hours and was last seen trading at 1.1108, down 0.22% on the day.