ECB’s Vasle: ECB ready to take further action if needed, EUR/USD keeps 1.1100
In an interview with old Slovenian national news agency STA on Friday, the European Central Bank (ECB) Governing Council member Bostjan Vasle said that the ECB is ready to "strengthen its instruments and use new ones if that would be necessary", as cited by Reuters.
Key Headlines:
“Risks, which include U.S. policy, China's economic slowdown and Britain's departure from the European Union, could lead to a further slowing in the eurozone and lower inflation.
Because of the changed economic conditions, a reaction of other economic policies is needed, particularly fiscal policy and not just monetary policy.”
Despite the dovish comments, the EUR/USD pair is trending higher above the 1.11 handle, as broad US dollar weakness underpins. The spot is at the highest levels since August 27th.