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NAB: Weaker euro is welcome development for the ECB

29 May 2018 11:13 AM

The head of FX strategy of the National Australia Bank comments was as follow:

  • Draghi's decisions will not be based on politics, unless he believes politics will affect the economy.
  • The weakness of the euro is very welcome by the European Central Bank, compared with its strength last year, which posed a threat to the bank's inflation target.
  • If the economy is basically well and the euro continues to fall, the ECB will be confident.
  • If there is pressure on the bond markets, there will be pause for reflection by the ECB.
  • Political uncertainty points to a possible further decline in the EUR in the near term.

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