EURUSD strongly gone down
Mario Draghi during a pressconference avoided talk of further easing and instead said that the measures which the ECB has taken earlier, should be given more time this was our toughest scenario, EUR USD soared to 1.1398 . However, when the press - conference ended , the euro fell and ended the day in negative territory against the dollar .
This reversal caught many investors by surprise, as the ECB stated that it has no plans to increase stimulation and does not consider that the currency is too expensive to worry about its impact on the economy. The ECB maintains a soft stance: he believes that before the euro area still faces a number of economic challenges, and interest rates remain at current or lower level for a long time. However, he noted that the financing conditions have improved, low oil prices support domestic demand, and inflation is expected to grow.