Germany's Scholz: If global trade tensions subside, growth will pick up

German Finance Minister Olaf Scholz crossed the wires in the last minutes arguing that the German economy is still strong with the unemployment rate staying at record low levels and added that growth will pick up if global trade tensions subside.

Earlier in the day, the European Commission in its latest Economic Growth Forecasts announced that it cut Germany's Gross Domestic Product (GDP) growth expectation to 0.4% from 0.5% for 2019 and to 1% from 1.4% for 2020.

The EUR/USD pair largely ignored these comments and was last seen trading at 1.1085, up 0.17% on the day.