ECB's de Cos: Governing council should increase monetary accomodation

"The European Central Bank's (ECB) governing council should increase the monetary accommodation to avoid market fragmentation given the worsening outlook for both the economic activity and inflation," ECB member Paolo Hernandez de Cos said on Monday, per Reuters.

"Foreign exchange moves between the US dollar and the euro is something to worry about," de Cos added. 

While speaking at the ECB Forum on Central Banking last week, Christine Lagarde, President of the ECB, said additional stimulus in December was likely to come through its Pandemic Emergency Purchase Programme (PEPP) and TLTROs.

Market reaction

The EUR/USD pair largely ignored these comments and was last seen trading with small daily losses at 1.1827.