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The European Central Bank (ECB) Chief Economist Phillip Lane reiterated the central bank’s stance on the Pandemic Emergency Purchase Programme (PEPP), saying, “We will adjust PEPP composition as much as necessary, for as long as needed.”

Further quotes

Non-fundamental volatility in spreads impairs the smooth transmission of policy.

It is a basic task for the central bank to counter such destabilizing forces.

EUR/USD reaction

The shared currency shrugs-off the above comments, as EUR/USD clings to gains near two-week highs of 1.0979 reached in the last hour.