# Euro advances after ECB's Lagarde says exchange rate not being targeted | Financial Post

> The euro rose to a one-week high against the dollar after ECB President Christine Lagarde said the bank watches the exchange rate but does not target it. The ECB held rates steady, and the euro traded near $1.18 after a high of $1.1917. Strategists noted the ECB has little room to weaken the currency.

- Date: 2020-09-10 · published 2020-09-10T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/51330-euro-advances-after-ecb-s-lagarde-says-exchange-rate-not-being-targeted
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer euro makes dollar-priced US feed ingredients relatively more expensive for euro-zone buyers and signals that the ECB is unlikely to act to weaken the euro, which keeps currency-driven shifts in import demand in play.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-10-28 | [Dollar falls on euro strength after ECB meeting as rates move \| Financial Post](https://feedsoft.ai/events/44744-dollar-falls-on-euro-strength-after-ecb-meeting-as-rates-move-financial-post.md) | -0.1% | -2.6% |
| EURUSD | 2023-06-15 | [Euro advances, surges to 15-year peak vs yen, after ECB lifts rates](https://feedsoft.ai/events/35698-euro-advances-surges-to-15-year-peak-vs-yen-after-ecb-lifts-rates.md) | +0.9% | +3.5% |
| EURUSD | 2024-09-12 | [Euro gains after ECB rate cut as Lagarde pushes back on October ease](https://feedsoft.ai/events/28525-euro-gains-after-ecb-rate-cut-as-lagarde-pushes-back-on-october-ease.md) | +0.9% | -0.6% |
| EURUSD | 2020-07-31 | [Euro's rise not 'brutal' enough, yet: Mike Dolan \| Financial Post](https://feedsoft.ai/events/52330-euro-s-rise-not-brutal-enough-yet-mike-dolan-financial-post.md) | +0.6% | +0.3% |
| EURUSD | 2020-03-02 | [Euro Exchange Rate Reaches 5-Week-Best As Rivals Pound Sterling And Dollar See Large Losses \| Exchange Rates UK](https://feedsoft.ai/events/6188-euro-exchange-rate-reaches-5-week-best-as-rivals-pound-sterling-and-dollar-see.md) | +2.9% | +0.5% |
| DXY | 2021-10-28 | [Dollar falls on euro strength after ECB meeting as rates move \| Financial Post](https://feedsoft.ai/events/44744-dollar-falls-on-euro-strength-after-ecb-meeting-as-rates-move-financial-post.md) | +0.6% | +2.5% |
| DXY | 2023-06-15 | [Euro advances, surges to 15-year peak vs yen, after ECB lifts rates](https://feedsoft.ai/events/35698-euro-advances-surges-to-15-year-peak-vs-yen-after-ecb-lifts-rates.md) | -0.0% | -1.5% |
| DXY | 2026-07-29 | [ING Says Dollar to Take Cue from Oil Prices If Fed Holds Rate \| Financial Post](https://feedsoft.ai/events/18262-ing-says-dollar-to-take-cue-from-oil-prices-if-fed-holds-rate-financial-post.md) | -0.9% | -2.0% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/euro-advances-after-ecbs-lagarde-says-exchange-rate-not-being-targeted

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.