ECB’s Villeroy: The European economy is likely to avoid a hard landing

European Central Bank (ECB) Governing Council member and French central bank governor Francois Villeroy de Galhau made some comments on the economic outlook on Tuesday.

Key quotes

“The European economy is likely to avoid a hard landing.”

“France probably will escape a recession.”

Market reaction

Amidst broad US Dollar sell-off and encouraging ECB-speak, EUR/USD is holding its recovery gains at around 1.0625, at the time of writing. The spot is up 0.20% on the day.