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The European policymakers’ main issue now is not the scale of the fiscal response but the speed of its execution,  European Central Bank (ECB) Governing Council member François Villeroy de Galhau said on Wednesday, as reported by Reuters.

“Speed, once more, is our collective handicap,” Villeroy added. “Governments now need to implement the recovery plan to which they have agreed and they need to do so urgently.”

Market reaction

The EUR/USD pair largely ignored these comments and was last seen posting small daily gains at 1.1728.