Villeroy has no comments about monetary policy in his initial remarks from London
ECBs Villeroy is on the wires saying:
- Great uncertainty remains around Brexit
- we are still hoping for a deal
- cooperation with UK after Brexit will be much needed on financial stability, digitalization and regulation of big tech firms
- must be ready for risks of a no deal Brexit
- European financial industry ready for no deal
- essential for euro members to use fiscal leeway
- Germany, the Netherlands should use fiscal leeway now
- larger international use of euro would help protect euro zone businesses against foreign exchange rate risks, legal disputes abroad
- would eventually like to see a genuine safe financial asset in the euro area that would help stabilize financial markets
Villeroy does not comment about monetary policy is initial remarks.
The EURUSD remains near its high for the day at 1.1064. The pair moved above its 100 and 200 hour moving averages at 1.10387 a few hours ago and has seen more upside momentum
