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Author Topic: Euro rebounds on 3rd day after ECB not worried Euro appreciation  (Read 594 times)

Wagorde

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The euro rebounded for a third day today after the European Central Bank (ECB) showed no concern over the euro appreciation.

As of 10:12 GMT, the euro rose 0.19% to $ 1.184 and rebounded 0.23% to 125.66 yen.

European Central Bank (ECB) President Christine Lagarde said the ECB was not targeting the euro at any level.

In addition to questions about the euro hitting a two-year high, Lagarde said, only the ECB would keep a close eye on the euro's appreciation.

Mrs. Lagarde also stated that Economic data indicates that the euro zone economy has rebounded strongly. And it is expected that the economy will shrink less than expected this year.

Mrs. Lagarde said: The euro zone economy is likely to shrink by 8.0 percent this year, a better-than-expected figure in June that the economy will shrink 8.7 percent this year.



 

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