Draghi speech: The exchange rate used in projections was around 1.18
Mario Draghi, President of the ECB, is responding to questions from the press, with key headlines, via Reuters, found below:
- Did not discuss adding new instruments to asset purchase program
- If we are not ready in October, can postpone decision
- The exchange rate used in projections was around 1.18
The sentiment around the single currency remains positive so far today, with EUR/USD testing daily highs above 1.2000 the figure.
The EUR/JPY cross reversed a knee-jerk dip below the key 130.00 psychological mark and surged to fresh weekly tops, closer to the 131.00 handle.
ECB’s press conference
Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the EUR, whereas his dovish view is considered as negative, or bearish.