Euro is on record losing streak against greenback
On Friday, the currency pair EUR/USD was down for a 10th consecutive trading session, as ECB President Mario Draghi promised to maintain stimulus until it turned to be clear that euro zone inflation happened to be self-sustainable and while Fed Chair Janet Yellen’s revelation that the members of the American major bank generally agreed at the November 2 policy gathering that a rate lift in American would be appropriate, strengthened the US dollar.
On Friday, Draghi told that the ECB would base its verdict on the withdrawal of stimulus on its analysis of whether the revival in inflation can sustain itself or not.
Even before Draghi’s speech, the currency pair happened to be under pressure, following the strength of the greenback after Yellen paved the way for the Fed to raise interest rates already in December.
On Thursday, in her testimony to the American Congress Joint Economic Committee Janet Yellen warned of the danger of waiting too long to tighten the US monetary policy.