Markets relatively stable despite Israel-Iran unrest
Francois Villeroy de Galhau, governor of the Bank of France. Photo: Nathan Laine/Bloomberg
The European Central Bank (ECB) needs to assess fluctuations in oil prices and the euro as it sets borrowing costs, according to Governing Council member Francois Villeroy de Galhau.
While the ECB doesn’t target a particular exchange rate, the common currency has demonstrated surprising strength against the dollar since US president Donald Trump began his tariff push.