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Limited Fallout For EUR/USD On FT ECB Story

EURO-DOLLAR

On first read the comments aren't anywhere near as alarmist as the headline. Modest fallout in EUR/USD, with fresh lows of $1.1810 printed as a result. The story comes in the wake of the recent comments from ECB chief economist Lane, where he noted that the level of EUR/USD does matter, even though monetary policy doesn't target the exchange rate, as well as the re-deployment of the "while any premature tightening of financial conditions could put the ongoing recovery at risk" passage in the accounts of the ECB's July meeting.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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