Comments by ECB member Ewald Nowotny
- Sees no immediate risk arising from the situation in Italy
- ECB should focus on getting deposit rate out of negative territory
He goes on to say that Italy's problems are a "special challenge" that cannot be solved by monetary policy and that it needs to be tackled by "real-economy politics" instead. Hawkish tones there and that is underpinning the euro to session highs at the moment.
EUR/USD up to a high of 1.1686, EUR/GBP up to 0.8974, and EUR/JPY up to a high of 129.84 on the day.
