Euro Struggles After Draghi Statement

Once again the ECB has left things the same, keeping interest rates the same while at the same time staying away from adding more stimulus. Even though the euro briefly touched a recent high against the dollar, the 19-nation currency is now heading lower, thanks in part to concerns about the economy.

Recent economic data has been lackluster for the eurozone, and that isn’t helping the 19-nation currency that much. Today’s ECB announcement didn’t do much to energize the euro, although policymakers decided not to make changes to interest rates or the asset purchases program.
ECB President Mario Draghi did talk about the possibility of downside risks to the economy in his statement, while at the same time pointing out that stimulus is helping the region. Greek bond prices are lower following the announcement, and stocks are struggling as well, thanks in part to oil prices dropping on the latest OPEC disagreements.
For now, the euro is struggling, and those struggles might get bigger if the United States ends up seeing higher rates later this year.
At 14:09 GMT EUR/USD is down to 1.1168 from the open at 1.1187. EUR/GBP is down to 0.7725 from the open at 0.7764. EUR/JPY is down to 121.15 from the open at 122.55.

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