Germany's Altmaier: There will not be a second lockdown

"There will be no second lockdown for businesses to contain the coronavirus pandemic," German Economy Minister Peter Altmaier said on Monday, as reported by Reuters.

Increasing taxes in the current situation in Germany "would be poison" for the economic recovery from the pandemic, Altmaier further argued.

Market reaction

Germany's DAX 30 Index remains on track to close the day decisively higher after these comments. As of writing, the index was up nearly 1% on the day at 12,813. Meanwhile, the EUR/USD pair is up 0.58% at 1.1785.