The euro was strong against the pound yesterday, benefitting from sterling’s weakness.
Yesterday evening, Christine Lagarde made her first official speech as President of the ECB, after taking over from Mario Draghi. She steered clear of commenting on monetary policy, and said that anyone who wanted to hear her views on the topic should “leave the room.” She instead called for “strength, resolve and courage” in the region. Briefly addressing the ECB’s internal agreements in monetary policy, she said that “of course, there have been different views about what constitutes a ‘good solution’ for Europe, such as appropriate balance between sharing risks and reducing risks.”
