15th April 2014
The EUR/USD exchange rate has continued to slide in FX trading after dovish comments by European Central Bank President Mario Draghi, who said policymakers may need to take action to stem the rise of the unit.
The single currency has subsequently weakened against the dollar, with Mr Draghi saying the ECB would ease monetary policy if the exchange rate kept strengthening.
Officials are concerned that a rise in the euro exchange rate could have a double negative impact on the eurozone economy, first through adding fire to the disinflationary trend in the region, and also by reducing demand for exports.
ECB policymakers now appear intent on keeping the EUR/USD exchange below the 1.4000 level, but much of that may depend on the release of US retail figures.
With the market looking for a rise in the core retail sales number from 0.3 per cent to 0.5 per cent, all eyes were cast across the pond. At 0800 GMT today, the EUR exchange rate stood at 1.381
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