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.