Euro pushes past ECB concerns to top $1.20The euro jumped to a nine-day high on Thursday and bond yields fell as the European Central Bank broadly stuck to its outlook for growth and inflation while expressions of concerns at the single currency’s strength were insufficient to rein it in. ECB President Mario Draghi referred several times in his post-meeting news conference to the euro’s strength, and said it was the main reason for a cut in the bank’s new 2018-19 inflation forecasts. It came as no surprise that Draghi cited the euro, which is up 14 percent this year against the dollar , but his stress that the growth outlook was broadly unchanged allowed the euro to surge past $1.20.


Read More At Article Source | Article Attribution