Bundesbank Dombret: European recovery is sustained and robust

Speaking

Bundesbank Dombret says:

• ECB expansionary monetary policy very much justified
• ECB easy money policy is very much justified because a recovery in the euro zone inflation remains muted
• The signs of sustained turnaround in terms of inflation are muted so far
• Views differed among ECB rate setters on the degree of support, but the view perspectives differ on how strongly the ECB should step on the monetary policy pedal and what instruments it should use

The comments are a bit more dovish for the Bundesbank.

The EURUSD is trading near the low levels for the day and is trading below its 200 hour MA at 1.1798. The 200 week MA this week comes in at 1.1767 (FYI).