"We are clearly not very happy at the moment," says ECB board member Christian Noyer when asked about the strength of the euro (FXE). "It's clear that when the euro starts to strengthen it creates additional downward pressure on the economy and additional downward pressure on inflation. Both cases are not warranted at the moment."
Noyer, however, doesn't signal any new policy ease, instead calling the "extreme degree" of stimulus appropriate for now. The ECB does, of course, stand ready to act as necessary.
In the green earlier, the euro is now slightly lower on the session.