ECB's de Guindos: EUR/USD exchange rate at 1.15 is no big obstacle on inflation target ...Middle East

The appreciation of the euro is not rapid, volatility not extremeThe risk of undershooting inflation target is very limitedThe risks to inflation are balancedMarkets understood perfectly well the post-decision messageECB is very close to the target nowIn the medium-term, tariffs will reduce both growth and inflationFully convinced Fed swap lines will be maintainedBringing back gold reserves from New York not even discussed

It is pretty rare for central bankers to specifically comment on the level of the exchange rate so de Guindos is making a bold move here. The other comments are rather passable.

This article was written by Justin Low at www.forexlive.com.

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