In the foreign exchange market, the dollar gained ground against the major currencies. After the vice president of the European Central Bank (ECB), Luís de Guindos, argued that inflation is transitory, the euro slowed. The single currency continues to depreciate 0.262% to $1.142.

Reiterating what the ECB has been saying about price hikes, the Spaniard said Monday that the current phase of higher inflation, which in part reflects rising energy prices and constraints in supply chains, may not be lasting as long as expected.

He added that in order to avoid the materialization of risks that have been identified by the monetary authority, it is necessary to encourage the impulse of recovery and avoid scenarios that could jeopardize price stability. The ECB therefore intends to continue contributing to favorable financial conditions in the market.