Draghi Talk Continues to Keep Euro Down

Euro is down again today, thanks in large part to more comments from ECB President Mario Draghi. He continues to talk about quantitative easing, and that is providing impetus for a lower euro.

Earlier, euro saw a bit of a comeback against some of its major currencies. Lower retail sales in the United Kingdom and the indication that the Federal Reserve will raise rates gradually all helped the euro make some progress against its major counterparts.

Now, though, the euro is slipping again. ECB President Mario Draghi has been speaking in Frankfurt, and he has identified some problems in the eurozone. He emphasized the low inflation rate in the 19-nation currency region, and that has many speculating that the ECB will be ready to intervene further with more economic stimulus.

Many Forex traders and analysts expect more monetary easing in December — right at the same time that the Federal Reserve is expected to announce an interest rate increase. Some think that this could result in parity for the euro and dollar by early 2016.

At 15:19 GMT EUR/USD is down to 1.0702 from the open at 1.0733. EUR/GBP is also lower, dropping to 0.7017 from the open at 0.7020. EUR/JPY is down to 131.3590 from the open at 131.8650.

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