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ECB President Christine Lagarde said the central bank will monitor euro appreciation very carefully because a stronger euro pushes down prices and inflation in the bloc. She added that the ECB does not target the exchange rate.
The euro had reached 2.5-year highs against the dollar at $1.2177.
A firmer euro lowers euro-zone import prices and can signal future policy easing, which weighs on the currency's direction against the dollar. For feed buyers, a stronger euro makes EU-priced feed inputs cheaper and tends to support dollar-priced commodities.
reuters.comDec 10, 2020After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
