Lagarde speech: We are still clearly dealing with pandemic crisis
|Christine Lagarde, President of the Europen Central Bank (ECB), said on Wednesday that they are still clearly dealing with the pandemic crisis and reiterated that support is required well into the recovery, per Reuters.
Lagarde further noted that banks in the eurozone are "pretty solid" but added that they expect to see more bankruptcies going forward.
Market reaction
The shared currency weakened modestly against its major rivals in the last hour. As of writing, the EUR/USD pair, which touched a daily high of 1.1973, was posting small gains at 1.1954.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.