ECB Noyer's comments on need for weaker euro weigh on EUR/USD

FXStreet (Łódź) - ECB executive board member and Bank of France governor Christian Noyer called for increased reform efforts in France during an interview in Europe 1 radio station, stressing the need for more spending cuts.

"Without reforms French growth potential is probably below 1%," he said.

Furthermore Noyer stated that the strength of the euro prevents inflation from reaching ECB's target of 2%. He suggested that the central bank could implement additional measures to reach the goal.

EUR/USD dropped to 1.2898 on the comments.