German election weighs on EUR [Video]
|German election weighs on EUR – Speaking to EU lawmakers Draghi seemed to defend the ECB’s still very accommodative policy once again and so far there are no signs that the key drivers at the central bank are willing to commit to an end date for QE yet, even if monthly asset purchases are likely to be scaled back from early next year. Indeed, Draghi said the recalibration of the stimulus will main accommodation, adding that the ECB needs to be patient and persistent. EURUSD dove over 0.6% in logging a three-session low at 1.1881. EURJPY and other euro crosses also took a hit, but the dollar pairing bore the brunt with the buck itself a more attractive proposition following the hawkish guidance from the Fed last week. USDJPY settled near 112.00 after posting highs just above 112.50 during Tokyo trading, reportedly on relief that North Korea hadn’t launched any more missiles over the weekend, and with BoJ recommitment to ultra-accommodative monetary policy last week continuing to reverberate.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.