ECB Spokesperson: ECB does not target a particular exchange rate

After the EUR/USD pair dropped to parity for the first time in nearly 20 years on hot US inflation data on Wednesday, a spokesperson for the European Central Bank (ECB) reiterated that the ECB does not target a particular exchange rate.

"However, we are always attentive to the impact of the exchange rate on inflation, in line with our mandate for price stability," the spokesperson added in an emailed statement, as reported by Reuters. 

Market reaction

EUR/USD stays on the back foot after this statement and was last seen losing 0.2% on the day at 1.0016.