Euro shaken, not moved by ifo and Draghi - UBS

FXStreet (Córdoba) - The UBS analyst team commented that regardless macroeconomic events, the EUR/USD remain in a tight range.

Key quotes

"EUR/USD ended the day without big moves even though the German ifo survey gave a strong positive impulse with a rise of the expected business conditions".

"ECB Draghi on the other hand was quite dovish, explaining that the ECB will react to a too strong euro with interest rate cuts, maybe even negative interest rates. Quant easing would be the response to falling long-term inflation expectations".

"Overall, the moves remained however limited. EUR/USD and USD/CHF continue to stay in tight ranges".