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.
