The euro was strong against the euro and dollar yesterday after the ECB’s monetary policy meeting, however, the rebound was mostly short-lived. As predicted, the Bank voted to keep interest rates on hold. ECB President, Christine Lagarde, was cautiously upbeat about the Eurozone’s economic recovery and played down concerns about the rising euro.
On the back of recent positive economic data, Lagarde announced that the Bank would upgrade their view on economic recovery, stating that the economy is, so far, performing broadly as expected after the coronavirus crisis.
With regards to worries over the rising euro, Lagarde said that the Bank does not target a specific level for the euro but would monitor the situation more carefully going forward.
