Commenting on the hot topic of inflation, the European Central Bank (ECB) Governing Council member Ignazio Visco said late Thursday that “supply and demand issues complicate the inflation outlook.”

“Monetary and fiscal policies may be unwound differently,” he added when asked about the withdrawal of the pandemic support.

Meanwhile, the ECB policymaker Jens Weidmann called for an end to the Pandemic Emergency Purchase Programme (PEPP) soon.

Market reaction

EUR/USD remains at the mercy of the US dollar dynamics, struggling above 1.1900, modestly bid on the day.