The European Central Bank (ECB) Governing Council member Klaas Knot said on Wednesday, the recovery in Europe seems to be going faster than previously thought.

He added that sustainable recovery is only possible if coronavirus is contained on a global scale.

Market reaction

Despite the upbeat comments, the euro appears little impressed, as EUR/USD drops below 1.2200.

The spot was last seen trading at 1.2188, down 0.18% on the day.

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