ECB’s Panetta: ECB can gradually reduce rates in line with disinflation process

Dhwani Mehta FXStreet

European Central Bank (ECB) executive board member Fabio Panetta said on Tuesday that the ECB “can gradually reduce rates in line with the disinflation process.”

Additional quotes

Should be ready to respond quickly to any shocks in one direction or the other.

Previous rate hikes will continue to dampen demand, output and inflation for months to come.

Wage growth can also be expected to ease.

Market reaction

EUR/USD was last seen trading at 1.0821, flat on the day, ahead of Fed Chairman Jerome Powell’s testimony.

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.02%	0.03%	0.13%	0.04%	-0.04%	0.14%	0.11%
EUR	-0.02%		-0.02%	0.10%	0.00%	-0.06%	0.12%	0.09%
GBP	-0.03%	0.02%		0.12%	0.02%	-0.03%	0.13%	0.10%
JPY	-0.13%	-0.10%	-0.12%		-0.10%	-0.18%	-0.00%	-0.03%
CAD	-0.04%	-0.01%	-0.02%	0.10%		-0.09%	0.12%	0.06%
AUD	0.04%	0.06%	0.03%	0.18%	0.09%		0.17%	0.12%
NZD	-0.14%	-0.12%	-0.13%	0.00%	-0.12%	-0.17%		-0.03%
CHF	-0.11%	-0.09%	-0.10%	0.03%	-0.06%	-0.12%	0.03%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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