EUR was weighed on by the stronger buck...
EUR was weighed on by the stronger buck, succumbing to further pressure as political risk in Italy has grown after Renzi’s ministers resigned, although the downside was relatively brief and it is unlikely snap-elections will be held. ECB President Lagarde reiterated the ECB carefully monitors FX and FX movements but do not target it, adding the ECB will be extremely attentive to FX impact on prices. Aside from EUR, Lagarde reiterated that if a larger PEPP envelope is required, the ECB will recalibrate, and if the ECB does not need to spend the full envelope, it will not. She was also optimistic on the start of the year. Villeroy also noted they are closely following the negative effects of the EUR rate. EUR/GBP possible third bounce at highlighted key level on trendline. Also aligns with 61.8% FIB.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.