In his speech today, Mario Draghi has taken a balanced message between notes dovish and hawkish.
The President of the ECB noted that economic recovery is now firm and comprehensive, but it has yet to be reflected in inflationary pressures over the supported.
Draghi battle that the ECB is becoming more confident that inflation will eventually lead to the target levels.
Draghi noted that it is necessary to be patient and persistent, and that a high level of accommodation remains necessary.
On the rise of the Euro, Mario Draghi reiterated that the recent volatility in the exchange rate represents a source of uncertainty that will need to be monitored.
While EUR/USD was on the support of 1.1860/50, the pair bounced very slightly as a result of such declaration.
The impact on the Forex remains very limited with a speech that reminds greatly of the messages that have already been passed at the meeting of the ECB’s monetary policy.