In an interview with BFM business radio on Friday, European Central Bank (ECB) policymaker Francois Villeroy de Galhau said that there will be further rate cuts, per Reuters.
Villeroy added that they are at ease with market projections on future rates and noted that French bond spreads have moved away from Germany and moved closer to Italy.
Market reaction
The Euro stays under modest bearish pressure following these comments. At the time of press, EUR/USD was trading at its lowest level since November 26 at 1.0458, losing 0.1% on the day.
Reviewed byTony
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