15 Apr 2014
ECB, to act or to talk? - Investec
FXStreet (Edinburgh) - Jonathan Pryor, Corporate Treasury Analyst at Investec, sees the EUR has now taken centre stage in the ECB's rhetoric.
Key Quotes
"Following ECB President Draghi’s warnings over the strength of the Euro over the weekend, ECB member Christian Noyer echoed Draghi’s comments saying he too is worried about the level of the single currency and its impact on prices in the Euro area".
"Mr. Noyer said that euro strength is "a drag on our objective of price stability" and the "appreciation that has taken place during the last year was not appropriate" given that the recovery in the Eurozone is lagging behind other advanced economies".
"The EUR traded marginally lower against GBP and USD throughout trade yesterday on the rhetoric, as the ECB wait to see if words will be enough or if action will need to be taken."
Key Quotes
"Following ECB President Draghi’s warnings over the strength of the Euro over the weekend, ECB member Christian Noyer echoed Draghi’s comments saying he too is worried about the level of the single currency and its impact on prices in the Euro area".
"Mr. Noyer said that euro strength is "a drag on our objective of price stability" and the "appreciation that has taken place during the last year was not appropriate" given that the recovery in the Eurozone is lagging behind other advanced economies".
"The EUR traded marginally lower against GBP and USD throughout trade yesterday on the rhetoric, as the ECB wait to see if words will be enough or if action will need to be taken."