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While speaking in New York (NY), the Governor of the French Central Bank, also the European Central Bank’s (ECB) governing council member, François  Villeroy  de Galhau recently said that the causes of the regional weakness are mainly external. This came after some of the regional policymakers emphasized on fiscal measures.

Key quotes

“The causes of the slowdown in the euro-area are mainly external.”

“Determined to reach inflation goal.”

“Committed to implementing entire September package.”

FX implications

The news seems largely ignored amid the start of the Asian session on Thursday. However, the same could help the regional currency Euro (EUR) to benefit while citing a somewhat less dovish stand for domestic fundamentals.