European Central Bank (ECB) Governing Council member Madis Muller said on Thursday, “the ECB should likely raise rates by a little.”
“Inflation is a bigger problem than the rise in borrowing costs.”
“It is vital for us to get inflation under control.”
Amidst a fresh round of the US Dollar selling in early Europe, EUR/USD is extending gains above the 1.0900 level, despite the dovish comments from Muller. The pair is trading at 1.0923, up 0.63% on the day.