EU's von der Leyen: EU recovery plan is to prevent weakening of EU single market

The European Union's (EU) recovery plan is aimed at preventing weakening of the EU's single market via bigger economic divergences, European Commission President Ursula von der Leyen said Friday. "Therefore, it's in everybody's interest."

"The allocation key for the recovery money is linked to unemployment over the last five years to address deep reasons for lack of resilience to crisis," von der Leyen further added.

Market reaction

The EUR/USD pair retreated from daily highs in the last minutes and was last seen trading at 1.1235, still gaining 0.3% on a daily basis.