Seeking Alpha

Euro moves higher as Draghi gives press conference

  • Euro area growth risks remain on the downside, says Mario Draghi at his press conference (webcast) following the ECB decision to leave policy unchanged. The most recent signs points to a somewhat weaker economy in Q3, he adds.
  • In other comments, Draghi says there was a discussion of a rate cut and gives a nod towards a euro acting somewhat strong of late, saying the exchange rate is important for the growth outlook. He says he's "closely monitoring."
  • For whatever reason, the euro (FXE) moves higher as the press conference moves on, now +0.3% at $1.3570.
  • Other euro ETFs: ERO, ULE, URR, EUO, DRR, EUFX.
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