ECB's Lagarde: Rising energy prices, supply disruptions could hold back growth

Christine Lagarde, President of the Europen Central Bank (ECB), said on Friday that they need to manage the exit from the pandemic very carefully, as reported by Reuters.

"Pandemic-related imbalance should be temporary," Lagarde added and cited rising energy prices and supply disruptions among frictions that could hold back the growth in the euro area.

Market reaction

The EUR/USD pair gained traction in the early American session but the disappointing US Nonfarm Payrolls report appears to be the primary catalyst rather than Lagarde's remarks. As of writing, the pair was up 0.25% on the day at 1.1578.