Search ForexCrunch

In an exclusive interview with Reuters on Friday, European Central Bank (ECB)  Governing Council member Pierre Wunsch noted that the incoming data since the introduction of the new stimulus package in September were not positive and added that the ECB remains far from its targets.

“We are still quite far. Be it the reversal rate or financial stability, those are real concerns, but my take is that on both of them, we are quite far from binding trade-offs,” Wunsch told Reuters. “Right now, we are far from our objective. We are not ‘close to but below 2%’.”

The EUR/USD pair eased slightly from session tops on these comments and was last seen trading at 1.1120, adding 0.15% on a daily basis. Below are some additional comments.

“Eurozone slowdown not just a soft patch; would not have stopped QE if ECB could have forecast weakness.”

“September ECB package means Lagarde does not have to make decisions in first meetings.”