ECB's Kazimir: Euro area yield gains are not dramatic for now

European Central Bank (ECB) Governing Council member Peter Kazimir said on Tuesday that bond yields must reflect economic fundamental and added that yield gains in the euro area are not dramatic for now, as reported by Bloomberg.

Kazimir further acknowledged that the European Union's fiscal response is lagging behind the US.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1908, losing 0.17% on a daily basis.