Citing four sources familiar with the matter, Reuters reported on Thursday that all European Central Bank (ECB) policymakers but one, Robert Holzmann, agreed to slowing down the pace of rate increases at May policy meeting.

Policymakers reportedly wanted forward guidance for more rate hikes ahead. According to the sources, some ECB policymakers except two or three more rate increases.

Market reaction

EUR/USD struggled to stage a rebound following this headline. As of writing, EUR/USD pair was down 0.35% on a daily basis at 1.1020.