ECB’s de Guindos: Downside risks have materialized

“The downside risks have materialized, with Q1 worse than initially expected,” the European Central Bank (ECB) Vice President Luis De Guindos said on Friday.

Further comments

“Sees risk of negative feedback loop between companies, banks and sovereigns.”

“Withdrawal of stimulus must be careful. “

“Also have to avoid zombification of Eurozone.”

EUR/USD reaction

EUR/USD remains pressured below 1.1900 amid a broad US dollar comeback. The spot was last seen trading at 1.1893, down 0.16% on the day.