Moody's: Coronavirus crisis to exacerbate spending pressures in rapidly ageing societies in Europe

Coronavirus crisis will exacerbate spending pressures in rapidly ageing societies in Europe, Moody’s Investor Services said on Wednesday, as reported by Reuters. 

"Coronavirus fallout will make Europe more indebted, more social and more reliant on technology," Moody's added. "Coronavirus crisis is expected to increase momentum around Europe's digital strategy, supporting demand for technology companies' services."

Market reaction

The EUR/USD pair largely ignored these remarks and was last seen gaining 0.45% on a daily basis at 1.1577.