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The European Central Bank (ECB) governing council member, Benoit Coeure, during a scheduled speech this Tuesday, said that we are committed to continuing QE for as long as necessary to reinforce the accommodative impact of our policy rates and could also consider expanding access to ECB balance sheet.
The comments reinforced the ECB’s dovish tilt and exerted some downward pressure on the shared currency, dragging the EUR/USD pair back closer to multi-week lows.