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15 Apr 2015
EUR/GBP wavers with Draghi’s conference
FXStreet (Córdoba) - EUR/GBP hit a fresh 3-week low and bounced after the ECB decided to keep monetary policy unchanged and President Draghi said in a conference the QE program was proceeding smoothly.
Draghi said the ECB will continue buying bonds until the end of September 2016 and, in any case, until they see a sustained adjustment in the path of inflation. On lowering the deposit rate to increase the amount of bonds available for QE, Draghi said they won't consider it.
However, the euro was barely affected by Draghi’s comments and remained well within its previous ranges.
EUR/GBP wavered with the Q&A, first hitting a low of 0.7165 and then climbing to the 0.7195 area. At time of writing, the pair is trading at 0.7190, still 0.21% below its opening price.
Draghi said the ECB will continue buying bonds until the end of September 2016 and, in any case, until they see a sustained adjustment in the path of inflation. On lowering the deposit rate to increase the amount of bonds available for QE, Draghi said they won't consider it.
However, the euro was barely affected by Draghi’s comments and remained well within its previous ranges.
EUR/GBP wavered with the Q&A, first hitting a low of 0.7165 and then climbing to the 0.7195 area. At time of writing, the pair is trading at 0.7190, still 0.21% below its opening price.