Yesterday, the euro traded lower against most of the other G10 currencies following Draghi’s remarks at the press conference following the ECB policy decision. The President said that market expectations on interest rates are aligned with the anticipation of the Governing Council. The pound slid as well after EU Brexit Negotiator Barnier rejected key parts of the UK’s customs plan.
Draghi Says Market Expectations are Aligned with the ECB’s Anticipation
The euro traded lower against the majority of its G10 counterparts yesterday. It gained slightly only against NZD, while it traded virtually unchanged against GBP and AUD. The common currency underperformed the most against USD, JPY and CAD in that order.
Yesterday, the main event for euro traders was the ECB policy decision. The Bank decided to keep monetary policy unchanged and proceeded with little changes in the accompanying statement. Thus, the euro remain unfazed at the time of the release, with investors waiting for President Draghi’s press conference.
In his introductory statement, Draghi noted that the latest economic indicators have stabilized and continue to point to ongoing broad-based economic growth. He also repeated that underlying inflation...
Read the full financial markets daily report on JFD Research.