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The European Central Bank’s (ECB) policymakers agreed on a target for monthly purchases under the  Pandemic Emergency Purchase Programme (PEPP), Reuters reported on Thursday, citing three sources familiar with the matter.

According to the sources, the ECB’s PEPP monthly target will be lower than €100 billion but will be well above €60 billion purchased in February. Additionally, ECB policymakers reportedly differ on whether the rise in yields need to be completely unwound.

Market reaction

The EUR/USD pair edged higher following this headline and was last seen trading at 1.1963, where it was up 0.32% on a daily basis.