According to the latest story carried by the Financial Times (FT) on Monday, the European Union (EU) is considering relaxing state aid rules in response to the Russia-Ukraine war.
Soaring oil prices due to the Western sanctions on Russia continue to flag growth risks in the Euro area, crushing the euro against the US dollar in early trades.
EUR/USD was last seen trading at 1.0880, consolidating the recovery from fresh 2022 lows of 1.0823, still down 0.41% on a daily basis.