ECB's Villeroy: We are closely following the negative effects of euro exchange rate

Comments by ECB policymaker, Francois Villeroy de Galhau

• We remain clearly committed to 2% inflation target
• Will maintain favourable monetary conditions for as long as necessary
• We are monitoring with particular attention the negative effects of the euro exchange rate against various currencies

Pretty much the same old, same old by the ECB as this is mostly a reiteration of their stance from towards the end of last year. The headline does offer some caution for the euro, but EUR/USD pretty much still has the license to roam between 1.20 to 1.25 for now.