ECB’s Lagarde: Economic recovery will be a complicated matter

European Central Bank (ECB) President Christine Lagarde, while presenting at an Online Summit organised by the European Business Leaders' Convention, said that we probably have passed the lowest point of the crisis. 

Additional quotes:

• Still cautious because of the second wave of infections.
• Economic recovery will be a complicated matter.
• Recovery will be incomplete, maybe transformational.

The comments did little to influence or provide any meaningful impetus to the shared currency. The EUR/USD pair was last seen hovering near the lower end of its daily trading range, just above the 1.1200 mark.