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Following that, ECB Governing Council member Martins Kazaks said in an interview with Latvia’s TV3 on Thursday, “the ECB will continue to hike interest rates to tame inflation,” per Bloomberg. Also exerting downside pressure on the major currency pair could be the risk-averse catalysts from China, That said, the quote drops to 1.0160 while snapping a two-day uptrend during Thursday’s initial European morning.ĮCB executive board member Isabel Schnabel said on Thursday, "Recession on its own would not be enough to control inflation." The policymaker also backed the regional central bank’s current policies. Final versus Eurozone inflation, second-tier US data can entertain traders.ĮUR/USD bears attack the short-term support line as policymakers from the European Central Bank (ECB) follow their US counterpart to highlight recession woes.Fed Minutes raised economic concerns and signaled the policymakers’ readiness to go slow on rate hikes before long.ECB’s Schnabel, Kazaks signal economic woes in the bloc but back the central bank’s current monetary policy.EUR/USD takes offers to refresh intraday low, snaps two-day rebound.