# Euro soars higher as ECB's Draghi comments on currency's strength

> The euro jumped above $1.204 against the dollar after ECB President Mario Draghi commented on the currency's strength, saying the central bank is monitoring its effect on inflation and growth. Draghi said the exchange rate is not a policy target, and core inflation is doing slightly better.

- Date: 2017-09-07 · published 2017-09-07T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/69156-euro-soars-higher-as-ecb-s-draghi-comments-on-currency-s-strength
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger euro lowers eurozone import prices and dampens inflation, which delays ECB tapering; for feed buyers, a firmer euro weakens dollar-priced EU demand signals and tends to pressure US commodity export competitiveness.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2018-01-25 | [Dollar stung by Mnuchin comments, euro awaits ECB's currency views - The HinduBusinessLine](https://feedsoft.ai/events/67193-dollar-stung-by-mnuchin-comments-euro-awaits-ecb-s-currency-views-the.md) | +0.3% | -0.5% |
| EURUSD | 2021-10-28 | [Dollar index drops on euro rise after ECB comments](https://feedsoft.ai/events/7166-dollar-index-drops-on-euro-rise-after-ecb-comments.md) | -0.1% | -2.6% |
| EURUSD | 2020-09-05 | [No cause yet for ECB alarm over euro strength](https://feedsoft.ai/events/51331-no-cause-yet-for-ecb-alarm-over-euro-strength.md) | +0.5% | -0.3% |
| EURUSD | 2023-07-01 | [Dollar weaker after data burst, euro rises on ECB comments](https://feedsoft.ai/events/35680-dollar-weaker-after-data-burst-euro-rises-on-ecb-comments.md) | +0.7% | +0.9% |
| EURUSD | 2022-02-03 | [Euro jumps after hawkish comments from ECB's Lagarde](https://feedsoft.ai/events/9869-euro-jumps-after-hawkish-comments-from-ecb-s-lagarde.md) | +1.2% | -2.2% |
| DXY | 2018-01-25 | [Dollar stung by Mnuchin comments, euro awaits ECB's currency views - The HinduBusinessLine](https://feedsoft.ai/events/67193-dollar-stung-by-mnuchin-comments-euro-awaits-ecb-s-currency-views-the.md) | -0.3% | +0.7% |
| DXY | 2021-10-28 | [Dollar index drops on euro rise after ECB comments](https://feedsoft.ai/events/7166-dollar-index-drops-on-euro-rise-after-ecb-comments.md) | +0.6% | +2.5% |
| DXY | 2020-09-05 | [No cause yet for ECB alarm over euro strength](https://feedsoft.ai/events/51331-no-cause-yet-for-ecb-alarm-over-euro-strength.md) | -0.3% | +0.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/09/07/euro-ecb-draghi-comments-on-currency-strength.html

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