Euro outlook 'unpredictable' after recent strength

Regulatory uncertainty

With the eyes of the markets fixed firmly on Frankfurt yesterday, European Central Bank (ECB) president Mario Draghi was decidedly lukewarm about the recent strength of the euro, warning that the central bank would want to see "whether the appreciation is sustained", while also stressing that the exchange rate is not a policy target for the ECB.

For the first time in several weeks, EUR/USD has fallen in recent days, and was trading at 1.3407 this morning, having been at 1.3646 a week ago

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