ECB’s Villeroy: French economy may be a little better than the 10% contraction estimate
|The European Central Bank (ECB) Governing Council member and Bank of France Head Francois Villeroy de Galhau is on the wires now, via Reuters, making some comments on the French economic outlook.
Key quotes
“French economic activity may return to pre-virus levels in early 2022.”
“French government must spend wisely.”
“Restoring private sector and household confidence is key to the recovery.”
EUR/USD drops towards 1.1750
The EUR/USD pair has come under renewed selling pressure in early Europe, extending the drop below 1.1800, as the greenback attempts a tepid comeback ahead of the US Q2 GDP data.
The shared currency ignores the above comments from ECB’s Villeroy. The spot, currently, trades at 1.1765, down 0.20% on the day.
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