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3 Jun 2015
EUR/USD wavers as Draghi speaks on monetary policy
FXStreet (Córdoba) - EUR/USD oscillated around 1.1100 but overall remained steady as ECB President Mario Draghi speaks in a press conference following the bank’s decision to leave the key rates unchanged.
Among remarks, Draghi said the asset purchase program is running well and is intended to continue until September 2016. The ECB plans to stick to policy strategy, looking through fluctuations in inflation.
ECB staff made no major changes to its economic forecasts, leaving the outlook for 2015 GDP growth at 1.5% and 1.9% in 2016, and expects inflation to pick up toward year end.
At the Q&A round, Draghi said the ECB wants Greece to stay in the Eurozone but it requires a strong agreement.
EUR/USD initially moved below the 1.1100 level and scored a fresh daily low of 1.1093 only to bounce back to the 1.1140 zone soon after. At time of writing, the pair is trading at 1.1110, still 0.36% below its opening price.
On Tuesday, EUR/USD reached a high of 1.1193 underpinned by hopes Greece and its lenders were moving closer to an agreement that will avoid a Greek default and a potential Grexit.
Among remarks, Draghi said the asset purchase program is running well and is intended to continue until September 2016. The ECB plans to stick to policy strategy, looking through fluctuations in inflation.
ECB staff made no major changes to its economic forecasts, leaving the outlook for 2015 GDP growth at 1.5% and 1.9% in 2016, and expects inflation to pick up toward year end.
At the Q&A round, Draghi said the ECB wants Greece to stay in the Eurozone but it requires a strong agreement.
EUR/USD initially moved below the 1.1100 level and scored a fresh daily low of 1.1093 only to bounce back to the 1.1140 zone soon after. At time of writing, the pair is trading at 1.1110, still 0.36% below its opening price.
On Tuesday, EUR/USD reached a high of 1.1193 underpinned by hopes Greece and its lenders were moving closer to an agreement that will avoid a Greek default and a potential Grexit.