The euro is gaining ground on other major currencies during the start of Friday’s trading session. The single currency found support after yesterday’s ECB monetary policy committee meeting during which ECB president, Christine Lagarde, stated that the current asset purchase program – totalling €1.85 trillion – remains flexible, meaning it may not all be used, or it could increase should circumstances require it to. Lagarde managed to navigate the press conference without triggering any alarm bells, with the flexible yet measured stance of the central bank maintaining the confidence of the markets in the prospects of the single currency, despite the pandemic and a looming double-dip recession triggered by the resurgence of the virus in the euro-zone.
