French Junior Economy Minister Pannier-Runacher was on the wires last minutes, via Reuters, noting that “we do not need to retreat on digital tax.”

Key Headlines:

We need to be 'pugnacious' regarding US tariffs threat.

The US is back-pedaling over digital tax.

This comes after the US Trade Representative’s office said on Monday that it may slap punitive duties of up to 100% on $2.4 billion in imports from France of Champagne, handbags, cheese and other products, after concluding that France’s new digital services tax would harm US tech companies.

The shared currency appears unperturbed by the fresh trade concerns, as it consolidates the recent rally around 1.1080 region.