The Euro rose above $1,16 for the first time in may 2016 on ECB statement


Moscow. July 20. INTERFAX.RU Euro during trading on Thursday rose above $1,16 for the first time in may of 2016 after the European Central Bank President (ECB) Mario Draghi said about the necessity of keeping stimulus programs in the Eurozone at the moment and promised to return to the question of their folding in the fall.

Analysts, commenting on the press conference, Draghi spoke of the “great choreography” of his speech, designed to preserve the calm on the markets in the process of preparing an exit strategy.

Euro to 18:10 CEST jumped 1.1% and was worth $1,6133 compared to $1,1515 at the close of the previous session.

The Euro-yen pair is trading at the level 129,93 128,94 yen against the yen at the end of the previous session.

During a press conference on Thursday, Draghi several times has not taken the opportunity to speak critically about the strengthening of the Euro in the last month. Traders considered this behavior as a signal that the management of the ECB satisfied with the current rate.

Despite the recent strengthening of the Euro and the rise in us yields, conditions in the financial sector of the Eurozone still favor a further increase in inflation, says Draghi. According to him, the strengthening of the Euro “has attracted some attention of the” Council of governors, as “the deterioration of financing terms – the last thing the ECB wants”.

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