ECB's de Guindos: Rebound in activity is expected in second half of year

"There are substantial downside risks, in particular, if the easing of containment measures turns out to be premature," European Central Bank (ECB) Vice President Luis de Guindos said on Monday.

"A rebound in activity is expected in the second half of the year," de Guindos added and reiterated that ECB's governing council will continually evaluate whether the size, duration and composition of the PEPP remain appropriate.

Market reaction

The EUR/USD pair continued to edge higher following these comments and was last seen gaining 0.8% on the day at 1.1265.