Commenting on IMF Managing Director Christine Lagarde's nomination for the European Central Bank (ECB) presidency, ECB Governing Council member and Bank of France Head Villeroy de Galhau said that Lagarde would be a great president and added that she would have his full support.
Regarding the policy outlook, "monetary policy needs to remain active," Villeroy said. "There should be no doubts about either our determination or our means to take action."
The EUR/USD, which has been having a tough time making a decisive move in either direction following Monday's sharp fall, was last seen posting small daily gains near 1.13.
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