ECB’s Villeory: French economic exposure is limited to Middle East war

European Central Bank (ECB) Governing Council (GC) members and Bank of France Governor, François Villeroy de Galhau, said during European trading hours on Tuesday that the impact of conflicts in the Middle East between the United States (US), Israel, and Iran will be limited on the French economy.

Remarks

French economic exposure to Mideast tensions is limited.

It would be a mistake to predict rate move in a hurry.

Market reaction

EUR/USD trades 0.45% lower to near 1.1635 at the press time. However, the downside move in the Euro (EUR) is due to risk-off sentiment, and not ECB Villeroy's comments.