While speaking at a news conference on Friday, European Central Bank policymaker Robert Holzmann said that it is now more likely that interest rates have reached their peak last month, per Reuters.

Holzmann also noted that there were no discussions about rate cuts among policymakers and added that a majority saw upside risks to inflation.

Market reaction

EUR/USD showed no immediate reaction to these comments. At the time of press, the pair was trading at 1.0965, where it was down 0.25% on a daily basis.