ECB Lagarde: Clear that external value of euro has impact on inflation
More from ECBs Lagarde
ECB's Lagarde is speaking on the impact of the EUR on inflation saying:
The commitment of traders report published by the CFTC on Friday showed EUR speculative long positions remained chunky. A higher tends to lower inflation pressures. The net long position increased to 191K from 178K the prior week.
- It is clear that external value of Euro has impact on inflation.
- We monitor FX movements
- Exchange rate is not a policy target for the ECB