Currency Analyst since 2010

EUR/USD: Draghi's comments

Draghi is speaking at a Euro conference in Riga, Latvia.

-            Euro works, it is a strong and stable reserve currency

-          Short-term money market rates have been, and are, unwarranted

-          Inflation on the low side of ECB’s target for this year and next

-          Recovery is still very, very green

-          EMU must ultimately be accompanied by political union

-          Deeper integration is needed

EUR/USD hit $1.3260, then recovered to $1.3285.  

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