Draghi Comments Send Euro Lower

Euro is heading lower today, thanks in large part to the latest comments from ECB President Mario Draghi. With the European Central Bank adopting a dovish stance and talking about more easing, it’s little surprise that the 19-nation currency is heading lower against the greenback today.

Euro is trading mixed today, dropping against currencies like the dollar and the yen, but gaining against the sterling and the loonie. The latest remarks from ECB President Mario Draghi have put many Forex traders and others on notice.
Concerned about the state of the global economy, especially a slowdown in China, Draghi has said that he is willing to move forward with more quantitative easing and other stimulus efforts in order to help boost the eurozone economy. This news has slowed the euro’s recent rise and popularity as a safe haven and sent it lower against the dollar and the yen.
However, dismal news out of Canada and the United Kingdom are weighing heavily on their currencies, leading the euro higher against the loonie and the sterling.
At 14:03 GMT EUR/USD is down to 1.1111 from the open at 1.1123. EUR/GBP is up to 0.7312 from the open at 0.7290. EUR/JPY is down to 132.5690 from the open at 133.5670. EUR/CAD is up to 1.4725 from the open at 1.4659.

If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *