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It’s Time For Euro To Soar

ByHelen Rush
Published 07/21/2017, 08:41 AM
Updated 07/09/2023, 06:31 AM

EUR/USD hit the record 1.1676 level, not seen since August, 2015. And it was right after the ECB’s press conference. Draghi did his best to persuade the market there is no rush in QE tapering, and no talk about policy tightening. For now. And the market caught the words it was looking for.

Draghi said they did not discuss stimulus removal, and the market heard that it might be in October. And that was enough for EUR to keep rising in the medium term.

Moreover, today there came another splash of speculations – Reuters cite some sources:

"with direct knowledge of the discussion" saying that December is too late for changing the policy course. And it means that October is the right guess.

In such an environment, EUR/ USD may keep going up without pauses with initial target at 1.1720, followed by 1.18.

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