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ECB president Mario Draghi yesterday said: "While there are still factors that are weighing on the path of inflation, at present they are mainly temporary factors that typically the central bank can look through". That's hawkish from him and Euro bulls needed no excuse to took the pair 150 pips higher by the end of the day.
The pair finally broke above U.S. election high (1.13) and extended gains to the highest level in a year. Pre-Brexit high (1.1430) is the next target and then last year's high near 1.1615. Broken 1.13 level should now offer some decent support.
The pair finally broke above U.S. election high (1.13) and extended gains to the highest level in a year. Pre-Brexit high (1.1430) is the next target and then last year's high near 1.1615. Broken 1.13 level should now offer some decent support.
