EURUSD topped at 1.2135 following the disappointing jobless claims data, though has since ebbed back to 1.2097 lows after the ECB’s Lagarde mentioned the EUR exchange rate in her press conference, saying the Bank is watching exchange rate developments and the associated impact on the medium term inflation outlook. The ECB has raised Euro strength concerns in the past, though at this juncture, it remains to be seen if verbal intervention will have much lasting impact.
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Andria Pichidi
Market Analyst
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