Back
16 Jul 2015
EUR/JPY struggles to regain 135.00 as Draghi speaks
FXStreet (Córdoba) - EUR/JPY bottomed out at a 6-day low but managed to recover some ground over the last minutes as ECB President Draghi speaks following the bank decision to leave monetary policy unchanged.
Draghi comments on policy, Greece
Draghi repeated its recent rhetoric that QE is proceeding smoothly and full implementation of all measures will help to support economic recovery and lead to a sustained return of inflation rates close to target.
However, Draghi casually confirmed the ECB has raised the emergency liquidity aid (ELA) for Greek banks by €900 million on Thursday under the assumption Greece will remain a member of the euro area.
The euro seem to have benefitted from ECB decision to raise ELA, although €900 million won’t be enough to lift capital controls. EUR/JPY bounced from a low of 134.74 and it was last trading around 134.95, still 0.38% below its opening price.
Draghi comments on policy, Greece
Draghi repeated its recent rhetoric that QE is proceeding smoothly and full implementation of all measures will help to support economic recovery and lead to a sustained return of inflation rates close to target.
However, Draghi casually confirmed the ECB has raised the emergency liquidity aid (ELA) for Greek banks by €900 million on Thursday under the assumption Greece will remain a member of the euro area.
The euro seem to have benefitted from ECB decision to raise ELA, although €900 million won’t be enough to lift capital controls. EUR/JPY bounced from a low of 134.74 and it was last trading around 134.95, still 0.38% below its opening price.