The European Union (EU) fiscal response to the crisis is inadequate, the European Central Bank (ECB) Governing Council member and Slovak central bank chief Peter Kazimir said on Tuesday, adding that the Eurogroup is not matching ECB’s efforts.
Kazimir, however, said that he is not opposed to PEPP increase but the decision should be based on granular data.
“European Court of Justice (ECJ) has sole authority over ECB’s actions.“
“No urgency in increasing pandemic purchases; must first examine how easing of lockdown measures impact the economy.”
EUR/USD jumps beyond 1.0800
EUR/USD extends its bounce towards 1.0830, although the above comments are not the main driver behind the move higher. The spot remains at the mercy of the USD price-action and risk trends ahead of the US CPI data.