EU's Dombrovskis: No need for Italy, France to take immediate action on budgets

France and Italy need to take measures to bring their 2020 budget plans into line with the European Union's (EU) fiscal rules but they don't have to make any immediate changes to their draft budgets, European Commission Vice President Valdis Dombrovskis said on Wednesday.

Dombrovskis explained that they were not yet seeing any serious risks of non-compliance with EU rules.

These comments did little to nothing to help the shared currency find demand and the EUR/USD pair was last seen trading at 1.1060, down 0.15% on a daily basis.