Free Trial

Single Currency Strengthens as Villeroy Eyes Weak EUR

EUR

The EUR is now one of the strongest currencies in G10, erasing overnight weakness as markets eye hawkish comments from ECB's Villeroy. One of the more notable comments from Villeroy was on FX, where he stated that the ECB "must watch FX; too weak a EUR jeopardizes their price stability objective".


Looks like a possible step-up in language on currency from an ECB member - recent comparable comments are:

  • Schnabel on May 3: "Through the higher cost of imports, this has effects on inflation, which we are closely monitoring. But we do not target the exchange rate."
  • Lagarde on April 14: "ECB always attentive to FX move, didn't discuss today"
  • Visco on March 23: "ECB taking into account FX rate when taking decisions"

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.