India, March 5 -- The euro strengthened against other major currencies in the European session on Wednesday, as traders reacted positively to news about the German government's plans to increase defense and infrastructure spending.
Germany's chancellor-in-waiting, Friedrich Merz, announced yesterday that the nation's main centrist parties had agreed to establish the infrastructure fund to invest in transportation, energy grids, and housing. Merz also stated that Germany would amend its constitution to exempt defense and security spending from fiscal limits.
Investors were also reacting to comments from U.S. Commerce Secretary Howard Lutnick that President Donald Trump will "probably" announce a deal to reduce tariffs on Canada and Mexico....