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Investing.com -- European Central Bank Vice President Luis de Guindos stated Tuesday that the euro’s current exchange rate isn’t causing concern for policymakers, though a rapid rise beyond $1.20 could become problematic.
Speaking on the sidelines of the ECB’s annual retreat in Sintra, Portugal, de Guindos made rare comments about the common currency’s exchange rate in an interview with Bloomberg TV.
"I think that $1.17, even $1.20, is not something," the Spanish official said. "We can overlook it a little bit. Something beyond that would be much more complicated. But $1.20 is perfectly acceptable."
De Guindos emphasized that the speed of the euro’s ascent is more concerning to the central bank than its current level.
His remarks provide insight into the ECB’s thinking on currency movements at a time when the euro has been strengthening against the dollar.
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