The single currency traded higher against almost all the G10 peers from Monday until Tuesday morning after the ECB Mario Draghi speech and the political uncertainty in Germany. Meanwhile, in the U.S., the important of the week are the FOMC minutes tomorrow a month before the interest rates decision, however, Janet Yellen announced her resignation.
Euro remains under pressure for the week so far on political uncertainty in Germany. Also, the dovish comments from ECB President Mario Draghi is pushing the common currency pair to the downside, however, against other currencies the single currency is moving higher. ECB President Draghi referred that in needed more time for the improvement in labor market and he highlighted the ‘recalibration’ of monetary is meant to ‘preserve the degree of monetary stimulus that is still necessary to secure a sustained return of inflation’.
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