Ahead of the European Central Bank (ECB) President Christine Lagarde’s speech, the Governing Council member and Bank of France Head Francois Villeroy de Galhau crossed the wires, via Reuters, with the key quotes found below.
“We will keep favorable monetary conditions as long as necessary.”
“We are closely following the negative effects of the euro exchange rate.”
“We remain clearly committed to 2% inflation target.”
EUR/USD back below 1.2200
EUR/USD saw a quick drop below 1.2200 on the above comments, now trading around 1.2191, losing 0.13% on the day.
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