ECB’s Villeroy sees additional rate hike unjustified

“We’ve seen positive inflation data and a concurrent rise in long-term rates. Although it might be deemed excessive, it aids in tightening financial conditions for the European economy, according to ECB policymaker Francois Villeroy de Galhau, who made the statement on Thursday.

Villeroy continued, “So today, I don’t think an additional increase in ECB rates is justified.”

The EUR/USD showed no immediate reaction to these comments and the pair was last seen trading at 1.0528, where it was up 0.25% on a daily basis.