ECB VP quoted by Livesquawk from interview with La Repubblica

Don't think he's talking about a 50 pip drop or rally though!

Further to previous reports/comments posted here and here by Justin:

Says Constancio:

"As it is known, we don't target the exchange rate. But I am concerned about sudden movements which don't reflect changes in fundamentals.Looking at fundamentals, inflation declined slightly in December"

"We see the need for a gradual adjustment of all the elements of our forward guidance if the economy continues to grow and inflation continues to move towards our goal. This does not mean that changes will be immediate"

"We are not changing the path of our monetary policy. With the decision to halve our monthly bond purchases we have adapted our monetary policy to the new economic context and consequently to the higher inflation ahead. But this does not mean that monetary policy will not remain very accommodative for a long time. We see no inflation risks. We should not choke off growth too soon"

EURUSD unfazed at 1.2215 with the main points already out there from the article.