More from ECB's Lagarde
- we are very confident that capital and liquidity positions of the euro area banks are well in excess of requirements
- financial tensions might dampen demand, do some of the work that would otherwise be done by monetary policy
- without tensions, we would have indicated that further hikes would be needed
ECBs Centeno is also speaking:
- This inflation we experience today has much of its origin from the supply side
- latest developments in European banking sector give us confidence in the decisions taken
The ECB raise rates by 50 basis points last week despite the banking crisis in Switzerland and in the US.
The EURUSD traits near the high for the day at 1.07302 (the price currently trades at 1.0725). The next target area comes between 1.0744 and 1.0752. The high price from last week extended above that swing area to a high of 1.07592 but failed and buyers turned to sellers. See earlier post.
EURUSD moves up toward topside swing area