EUR/USD pares earlier gains, falls back to 1.0400 despite ECB Villeroy’s comments By Frank_Macro EURUSD ECB Fed
with Villeroy noting the bank will be carefully monitoring developments in the FX rate, which has been a significant driver of imported inflation. A euro that is too weak would go against the ECB’s objective of price stability, Villeroy added, in comments that suggest the recent euro downside is increasing concern at the ECB.
will be speaking later on in the day. He is expected to reiterate his recently espoused stance, and the stance also being unanimously espoused by other Fed policymakers including NY Fed President John Williams on Monday, that inflation is unacceptably high and, as a result, interestEven as the ECB turns more hawkish , traders remain reluctant to buy into EUR/USD rallies with the Fed still substantially more hawkish by comparison.
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