Spanish PM Sanchez: Confident EU leaders will reach agreement

Spanish Prime Minister Pedro Sanchez said on Monday that he is confident EU leaders will reach an agreement on budget and recovery fund that pleases both citizens and financial markets.

"We need a deal at the EU summit, hopefully, it will come in the next few hours," Sanchez added. "Reaching EU agreement will require empathy, dialogue and determination."

Market reaction

The shared currency struggled to capitalize on these comments. As of writing, the EUR/USD pair was up 0.2% on the day at 1.1450.