ECB's Kazaks: Uncertainty in financial markets is high, but EU banks are well capitalized

European Central Bank (ECB) policymaker Martins Kazaks said on Tuesday, “uncertainty in the financial markets is high, but European banks are well capitalized.”

Additional comments

“Financial resources are available in Europe.”

“There is no reason to compare the situation with 2008. “

“Bank supervision is much stronger than back then.”

Market reaction

EUR/USD is keeping its range just above 1.0700 on the above comments. The pair is still down 0.07% on the day, as of writing.