Europe's first cross-border trial of central bank digital currency payments has been described as a success by the central banks of Switzerland and France, though they said it would not immediately lead to issuance of CBDCs. Project Jura, named after the mountains between the two countries, is the latest in a series of CBDC trials conducted by central banks keen to rebut the threat from crypto assets. "Project Jura confirms that a well-designed wholesale CBDC can play a critical role as a safe and neutral settlement asset for international financial transactions," said Benoît Coeuré, head of the Innovation Hub at the Bank for International Settlements.
EUR/USD tries to rebound after the recent pullback.
ECB President Lagarde will put the EUR in focus later this morning. The main event of the day, however, will be the Bank of Canada policy decision and forward guidance.