The European Central Bank (ECB) is prepared to tighten faster if inflation stays above its 2% price target, Governing Council member Madis Muller said on Friday.

In the last hour, ECB policymaker Villeroy de Galhau said that the Eurozone economy was close to peak inflation.

EUR/USD reaction

EUR/USD is holding steady at 1.1332, moving back and forth in a narrow range ahead of the German IFO Survey.