The European Central Bank should not pre-commit to any specific policy move beyond February, European Central Bank (ECB) executive board member Fabio Panetta told German newspaper Handelsblatt on Tuesday, as reported by Reuters.

Panetta argued that they can bring inflation down with well-calibrated and non-mechanical rate hikes and noted that he is "anxiously optimistic" about inflation after recent good readings.

Market reaction

EUR/USD managed to rebound from daily lows after these comments and was last seen trading at 1.0855, where it was down 0.1% on a daily basis.