ECB does not target the exchange rate, but it is an important variable: de Guindos

1 month ago 16
43 CBD Solutions

Reuters reported that the European Central Bank vice president Luis de Guindos said.the ECB does not target the euro exchange rate in its policy, but it is an important variable and the bank monitors it when assessing the effects on price stability.

De Guindos, who was answering a question on the appreciation of the euro exchange rate at a press conference after of European Union finance ministers in Berlin.

EUR/USD update

The single currency is in a phase of the distribution and the EUR rebounds proved relatively short-lived despite yields edging firmer following the ECB last week.

This may be the case considering that the upside changes to staff macroeconomic projections were, if anything, less than markets had anticipated given leaks earlier in the week.

On the charts, there are downside prospects in the following technical analysis as follows:

The Chart of the Week: EUR/USD in distribution, bears waiting for breakout confirmations

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.

Read Entire Article