eFXdata reports that Bank of America Global Research flags a scope for a delay in the EU Recovery Fund. 

"Disagreements on rule of law are threatening a delay in the set up of the Recovery Fund (NGEU), initially expected for Jan-21". 

"A delay shouldn't have major market impact, but one should hedge a scenario where markets think the project will be rejected...In our baseline, which sees EU countries compromise, we like EUR/CZK lower and paying rates in Poland. In case of a breakdown, as EUR/USD will likely be hit, CEE FX will suffer as a consequence, most likely the PLN given it is the most crowded," BofA adds.