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It’s too early to discuss the end of the European Central Bank’s Pandemic Emergency Purchase Programme (PEPP), ECB governing council member Gabriel Makhlouf said on Wednesday, per Reuters.

“Recovery may be bumpy and uneven, the viability of some firms will be tested by necessary tapering of government supports,” Makhlouf added.

Market reaction

Following these comments, the shared currency seems to be weakening modestly against its major rivals. As of writing, the EUR/USD pair was trading at a fresh session low of 1.2115, losing 0.08% on a daily basis.