ECB’s Panetta: We have not reached the end of rate hike cycle

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European Central Bank (ECB) executive board member, Fabio Panetta, said on Friday, “we have not reached the end of the rate hike cycle.”

He added, “but we are not far away from it.”

Market reaction

At the time of writing, EUR/USD is modestly flat on the day at 1.0765, awaiting the US Nonfarm Payrolls data.