Euro remains
under pressure ahead of ECB meeting
June
3, 2015
The single
currency remained under short covering pressure on higher inflation rates in the
Euro zone and signs of a resolution to the Creece crisis ahead of today ECB
meeting. In fact, the analysts are expecting no rate changes, while the ECB
president Mario Draghi statement will be followed closely by the investors. On
the other hand, Greece also remains in focus for
markets and increasing hopes about the debt
deal.
So Mr. Draghi
press conference could have a significant impact on the currency. If he is
optimistic, the euro will recover above $1.12, but if the speech is negative it
will push the euro down and will dispel its
gains.
