EU proposes to ease restrictions on non-essential travel for those who have been vaccinated

The European Commission proposed that Member States ease the current restrictions on non-essential travel into the block for those who have been vaccinated. The travel ban has been in place for over a year amid the continuous surge in COVID-19 cases.

The announcement raised prospects for the gradual reopening of the economic activity, which should boost the region's growth in the near term. This, in turn, provided a modest lift to the shared currency and pushed the EUR/USD pair to fresh session tops, beyond mid-1.2000s.