European Central Bank (ECB) chief economist Philip Lane said on Tuesday that it is challenging to reconcile the market rate pricing with forward guidance, as reported by Reuters.

"Markets may not have fully absorbed the ECB's forward guidance," Lane added.

Market reaction

The shared currency came under modest selling pressure after these comments. As of writing, the EUR/USD pair, which touched a multi-week high of 1.1670 earlier in the day, was trading at 1.1632, where it was up 0.2% on a daily basis.