Christine Lagarde, President of the European Central Bank (ECB), said on Thursday that the ECB's Governing Council has agreed to take action and recalibrate its policy at the next policy meeting in December.
With the initial reaction, the EUR/USD slumped to a fresh monthly low and was last seen losing 0.5% on the day at 1.1686.
Lagarde further noted that the Governing Council will look at all instruments and added that they will continue to use the entire flexibility of the Pandemic Emergency Purchase Programme (PEPP).
ECB Quick Analysis: Gloomy Lagarde lays ground for stimulus, next euro moves depend on COVID.
"We are not going to stand still" – the words of Christine Lagarde, President of the European Central Bank are weighing on EUR/USD, sending it to the lowest in a month.
Lagarde speech: Recent data point to significant softening in activity in Q4.
Following the European Central Bank's (ECB) decision to leave its key rates and the €1,350 billion Pandemic Emergency Purchase Programme (PEPP) unchanged, Christine Lagarde, President of the ECB, is delivering her remarks on the monetary policy outlook in a press conference.
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