Inflation target difficult to reach – ECB’s Nowotny

FXStreet (Edinburgh) - Ewald Nowotny, member of the ECB’s Governing Council, has argued that reaching the 2% inflation target in the euro area remains ‘difficult’. He also added that the current collapse of crude oil prices is ‘extraordinary’.

In the meantime, EUR/USD extends its upside momentum to the 1.0980 area, or 3-day peaks.