Comments from Lagarde in the ECB opening statement:
- Says ECB will monitor FX rate
- Strength of recovery remains surrounded by uncertainty
- Rebound broadly in line with previous expectations
- Domestic demand recorded significant recovery
- Uncertainty weighing on consumer spending and business investment
- Inflation dampened by energy prices
- Ample monetary stimulus remains necessary
- Incoming data suggest notable recovery in consumption
- ECB will carefully assess the euro's effect on inflation
- New infections are a headwind to the short term outlook
- Repeats that an ample degree of easing needed
- Fiscal measures should be targeted and temporary
The euro jumped to 1.1891 from 1.1850 on the headline from Lagarde.
