Euro lost 0.6% on German economy outlook

During Thursday, April 2, the Euro depreciated 68 pips or 0.63% against the US Dollar. Note that the European Common Currency also depreciated against other major currencies.  

It is likely that the drop was driven by German Economy Minister Peter Altmaier's statement. The Minister stated that German economy could tumble lower this year than during the 2008/2009 financial crisis. 

Altmaier claimed that the economy growth was good during the first months of 2020. However, the coronavirus outbreak took a heavy toll on German economy.