In an interview with Spanish newspaper 20 Minutos on Thursday, European Central Bank (ECB) Vice-President Luis de Guindos said that it was too early for the monetary policy to start to ease, per Reuters.

De Guindos added that the ECB does not expect a technical recession in the Euro area and said that they would welcome a deal on the EU fiscal reform because that would reduce uncertainty in markets.

Market reaction

EUR/USD showed no immediate reaction to these comments. At the time of press, the pair was virtually unchanged on the day at 1.0945.