The macroeconomic outlook is mixed and protracted weakness in the euro area is expected, Central Bank of Ireland Governor and European Central Bank (ECB) policymaker, Gabriel Makhlouf, said on Wednesday.
“Both hard and soft data for the second half of the year point to continuing, moderate growth,” Makhlouf added and noted that external risks, including the ongoing possibility of a disorderly Brexit, were heightened at the moment. “Brexit represents an enormous change – and transition – for the citizens of Ireland.”
The EUR/USD pair seems to be edging lower after these comments and was last seen trading at 1.1060, erasing 0.15% on a daily basis.
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