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Forex News

Central bank could intervene in the commercial paper market this week

In an interview with French outlet, WanSquare, the European Central Bank (ECB) Governing Council member Villeroy said that the central bank could intervene in the commercial paper market this week.

Further comments

ECB intends to be an “operational, fair and significant” actor in the commercial paper market.

The central bank has not deployed such firepower before to support the economy.

ECB intends to buy non-bank corporate commercial paper on both the secondary and primary markets, except for public companies.

EUR/USD holds gains near 1.0840

The shared currency ignored the above comments as well as the awful French Markit Manufacturing PMI data, with EUR/USD consolidating the upside around 1.0840 region.

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