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Christine Lagarde, President of the Europen Central Bank (ECB), said on Friday that she believes that the euro area is in a recovery process, as reported by Reuters.

Additional takeaways

“The recovery is uncertain.”

“Given the uncertainty, divergence, supportive policies remain necessary for months to come.”

“The inflation rise this year is temporary.”

“We should see through temporarily higher inflation.”

Market reaction

These comments seem to be weighing on the shared currency. As of writing, the EUR/USD pair was losing 0.1% on a daily basis at 1.2214.

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