Movements slightly up but below the threshold of 1.18 for the euro / dollar on the day of the meeting of the European Central Bank (ECB). Yesterday the single currency recovered moderately on the dollar’s retreat, rising from 1.1750 to 1.1804 EUR / USD.
“Today the outcome of the ECB meeting will be crucial which, acknowledging the new policy strategy (transition to a symmetrical inflation target with the possibility of temporary phases of inflation overshooting), will revise the forward guidance”, report the experts of the office. Intesa Sanpaolo studies underlining that “if the new policy is formulated to indicate a de facto more accommodative policy approach, the euro should be weakened, with possible testing of key supports around 1.1700 EUR / USD”.