According to Reuters, European Central Bank (ECB) policymaker Pablo Hernandez de Cos stated on Monday. That core inflation in the Eurozone is expected to remain elevated for the rest of the year.
“If the March baseline scenario is confirmed, there is still ground to cover in terms of monetary policy,” de Cos added.
De Cos of the ECB statement reaction on EURUSD
These remarks do not appear to be assisting the Euro in finding demand in the American session. As of this writing, the EURUSD pair was trading at 1.0840, down 0.5% on the day.
