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Euro moves above $1.12 after Draghi speech

Investing.com - The euro moved higher against the dollar as ECB chief Mario Draghi painted an upbeat picture of the euro-zone economy.However, Draghi insisted on the need for ongoing ""considerable"" monetary accommodation to push inflation higher.The single currency was up 0.64% at $1.1253 at 05:30 ET.The dollar index fell back below 97 and was trading off 0.46% at 96.66. “We see growth above trend and well distributed across the euro area, but inflation dynamics remain more muted than one would expect,” Draghi said in prepared remarks.“We can be confident that our policy is working and its full effects on inflation will gradually materialise,” he added.“But for that, our policy needs to be persistent.”

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.