© Reuters. Euro breaks through $1.20 as Draghi speaks
- Recent euro (NYSEARCA:FXE) volatility is a source of uncertainty, says Mario Draghi, now speaking at his post-meeting press conference.
- The euro has moved higher since he began talking, now up 0.7% and buying $1.20.
- The ECB has revised downward its inflation expectations – now seeing 1.2% next year vs. 1.3% previously, and 1.5% in 2019 from 1.6% previously. Draghi says strength in the euro is behind the revisions.
- The Stoxx 50 (NYSEARCA:FEZ) is higher by 0.5%.
- Previously: ECB leaves rates unchanged (Sept. 7)
- Now read: Not All Swaps Are Created Equal; Part 2 (Eurodollar University)